AST SpaceMobile (NASDAQ: ASTS) is drawing serious attention from investors as its satellite network expands and direct-to-device service moves closer to becoming a commercial reality.
The company has successfully launched its next-generation BlueBird satellites, including three in August, bringing the total number of BlueBird spacecraft launched to 13.
AST is now targeting between 45 and 60 satellites in orbit by the end of 2026, with a larger deployment pushed to early 2027.
Additional satellites are already in various stages of production, meaning the company is steadily closing the gap between its current constellation and a commercially useful network.
For years, AST has been a prove-it story, centered on whether it could launch enough satellites to deliver meaningful cellular coverage and convert that technology into a viable business model.
The next major catalyst on the horizon is actual customer usage, with AST preparing a beta service alongside select mobile network partners, starting with AT&T (NYSE: T) and Verizon (NYSE: VZ).
The company has already activated thousands of digital cells across the United States as it prepares to bring that beta service online for real users.
AST already holds agreements with more than 60 mobile network operators covering billions of subscribers, giving it a distribution footprint that would be extraordinarily difficult for a smaller space company to replicate independently.
The mobile operators already have the customers, and AST is simply providing the network in space to serve them, removing the need to convince consumers to download new apps or purchase new devices.
Beyond the United States, AST and Rakuten were selected for Japan’s J-LEO initiative, which is expected to receive as much as $1 billion in government capital to support satellite communications infrastructure.
AST says the Rakuten partnership is part of its broader push to establish direct-to-device service in Japan, a large and developed telecom market with applications ranging from rural coverage to emergency communications.
Japan gives AST another significant international growth engine and could serve as proof that its business model scales effectively outside its home market.
If the Rakuten service launches as planned and J-LEO progresses, AST could add meaningful new revenue streams as its satellite constellation continues to grow.
With a growing constellation, a real shot at beta service with major carriers, and an international foothold taking shape, the company is entering 2027 with several significant catalysts aligned.
If AST executes well and turns its technology into a working commercial network, the market could begin valuing ASTS stock very differently than it does today.
