shares of AST space mobile rocketed higher on Wednesday, quadrupling since just the start of May.

Verizon became the latest telecom to strike a partnership with a small cap satellite operator,

which is building a constellation for space-based broadband service to

unmodified mobile phones.

The deal includes a hundred million dollar commitment for AST including prepayments and a debt investment by Verizon.

AST Space Mobile CEO and founder Abell Avalon says the company has 45 agreements and this builds on a business model enabled in part by a longtime partner AT&T

which inked its own commercial deal with AST just earlier this month and today

actually welcomed the news involving its rival.

They provide the spectrum, they provide the customer base,

billing, all the back office, all or marketing and infrastructure.

We provide the, where in essence is the space infrastructure

to enable any phone to connect to it regardless

what people is.

AST will launch its first five operational satellites which will be the largest

spacecraft in low-Earth orbit behind the International Space Station as soon as this summer.

Continuous service will come by 2026.

It speaks to the growing demand for continuous connectivity in an AI and autonomy-enabled world. connectivity is

required everywhere. I mean connectivity is now

not only is connecting people by connecting machines

and then interconnecting then in an intelligent way

that you can predict what things will happen,

how traffic will flow, where people will be,

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