
Starlink Rival Announces Plans to Take on Musk With a $1.5 Billion Satellite Push
The company announced its second-quarter earnings on Monday, revealing that it had $1.5 billion on its balance sheet to fund the deployment of dozens of its satellites, CNBC reported. The next day, AST SpaceMobile's shares soared by more than 10% with the prospect of the company providing coverage to the United States, as well as Europe, Japan, and other key markets.
AST SpaceMobile launched its first satellite, BlueWalker 3, in September 2022 to test its long-term plan of establishing a space-based cellular broadband network directly accessible by cell phones. A year later, the company used its prototype satellite to carry out the first 5G phone call from space to a regular Samsung Galaxy S22. Since then, AST has launched five other satellites, named BlueBird, and it wants to send 243 more to orbit.
In an effort to ramp up its orbital cell-phone towers, AST is aiming for four additional launches by the end of March 2026. 'We have planned orbital launches every one to two months on average during 2025 and 2026,' Abel Avellan, founder and CEO of AST SpaceMobile, said in a statement.
With this substantial increase in pace, AST is chipping away at industry leader SpaceX. Naturally, the two companies are locked in a bickering match over who has the right to litter low Earth orbit with massive constellations. Last month, SpaceX sent a letter to the Federal Communications Commission to raise concern that AST SpaceMobile poses a threat to the sustainability of low Earth orbit.
To be fair, the BlueWalker 3 was obnoxiously big, with a tennis court-sized array that stretched across 693 square feet after the satellite was fully unfurled. SpaceX's satellites, however, don't exactly get a good rep. Starlinks are known to interfere with astronomical observations of the cosmos despite some efforts by the company to mitigate the issue.
Things are only going to get worse from here. SpaceX plans to deploy thousands more of its Starlink satellites, while AST's second-generation BlueBird satellites are three times larger than the first batch. There are other companies hoping to get in on the action as well, such as Amazon's Project Kuiper, which now has more than 100 satellites in orbit. Starlink may soon lose its monopolizing reign in low Earth orbit as more satellites fill up the skies.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
16 minutes ago
- Yahoo
Seaway crude oil pipeline system resumes full operations after leak
NEW YORK (Reuters) -Enterprise Products Partners said on Friday the Seaway crude oil pipeline system resumed full operations after a crude oil leak from the company's oil terminal in southeast Houston earlier this week. A portion of the Seaway pipeline went down on Tuesday night, impacting crude oil flows on the pipeline, which runs from Cushing, Oklahoma, to the Freeport, Texas, area and connects to the Enterprise Crude Houston (ECHO) terminal.
Yahoo
16 minutes ago
- Yahoo
StanChart shares fall 7% after U.S. lawmaker calls for probe
LONDON (Reuters) -Shares in Standard Chartered fell 7% on Friday after a U.S. Republican lawmaker wrote to the Attorney General Pam Bondi asking for action to be taken against the bank over alleged "ongoing sanctions evasion". Elise Stefanik, a New York Republican, requested in a letter shared on the X social media platform and published on her website that a special attorney be appointed to look into Standard Chartered's alleged failings. Standard Chartered did not immediately respond to a request for comment. The bank's shares, which had been about 1.5% lower earlier on Friday, plunged and were last down 7% at 1433 GMT. One trader linked the share move to the letter. Like other European lenders, Standard Chartered's stock has risen sharply this year and hit a near 12-year high earlier this week.

Yahoo
16 minutes ago
- Yahoo
U-Blox says it is in talks with suitor Advent over a takeover
(Reuters) -Switzerland's U-Blox Holding, a maker of microchips and software for car navigation, said on Friday that it was in talks with Advent International about being taken over by the private equity firm. "Whether a transaction will materialize is open at this stage," the company said in a statement. Bloomberg earlier reported on the talks over an acquisition deal that could value U-Blox at more than 1 billion Swiss francs ($1.24 billion). The shares were up 19% at 1422 GMT at a three-year high, for a total market value of about 1 billion Swiss francs The Swiss technology group, which went public in 2007, said last week it cut its first-half loss before interest and tax to 7.7 million francs from a loss of 28 million a year earlier. It cited cost cuts and higher revenues that jumped 32% to 123.4 million francs. Earlier this year, the company sold a unit making cellular modules for wireless communication to focus on fast-growing navigation and positioning technology used in cars, robots and farm equipment. Advent did not immediately respond to requests for comment. ($1 = 0.8048 Swiss francs)