AST SpaceMobile Climbs 3% as US and Japan Back Rakuten Satellite Tie-Up; Planet Labs Jumps 4%, Rocket Lab Ticks Up

Government backing in Washington and Tokyo, plus a completed carrier test in Canada, has handed AST SpaceMobile (NASDAQ:ASTS) two distribution wins that are lifting space stocks broadly. ASTS stock is at $60.14, up 3% in morning trading. Both developments center on carriers that could sell AST SpaceMobile’s satellite service directly to their own subscribers.

Notably, Planet Labs (NYSE:PL) stock is running ahead of that move at $18.07, rising 4% this morning. Rocket Lab (NASDAQ:RKLB | RKLB Price Prediction) is another name in the same space cluster; it’s up 2% to $74.55.

The Procure Space ETF (NASDAQ:UFO) is up 0.9%, while the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is up 0.3%, leaving the space names comfortably ahead of the broad market.

U.S. and Japan Back the Rakuten Partnership

The governments of the United States and Japan welcomed cooperation between Japan’s Rakuten Group and AST SpaceMobile to develop and deploy Low Earth Orbit (LEO) satellite infrastructure, in a joint statement released by the State Department. This statement followed a meeting in Kyoto between the White House science and technology chief and Japan’s science and technology policy minister. Both governments also committed to expanding digital connectivity cooperation across the Indo-Pacific, a pledge that places AST SpaceMobile’s LEO network inside a broader policy push.

Separately, TELUS (NYSE:TU) and AST SpaceMobile announced on October 5 that the two companies completed their first integration test between the TELUS wireless network and the AST SpaceMobile space-based network. The test covered broadband data, voice calls and text messages sent directly between satellites and eligible smartphones. TELUS expects the service to reach its customers within the next year with no special equipment required.

Carrier Wins Outpace the Satellite Buildout

The Rakuten reference and the TELUS test both strengthen carrier distribution. Neither changes the constellation itself, so supply still depends on a launch schedule AST SpaceMobile hasn’t dated.

Japan’s interest precedes the joint statement. AST SpaceMobile’s Q2 2026 earnings release disclosed a preliminary J-LEO selection of its Rakuten joint venture by Japan’s Ministry of Internal Affairs and Communications, valued at up to approximately $1 billion.

AST SpaceMobile is building a satellite network that connects directly to standard smartphones through carrier agreements, so its revenue depends on those agreements becoming live commercial service, while Planet Labs sells earth-imaging data by subscription to government and commercial customers, earning recurring revenue from a constellation already in orbit.

Lacking any comparable partner news, Planet Labs stock is beating ASTS stock, which suggests part of the rally reflects buying across the broader space complex. Meanwhile, AST SpaceMobile stock is down 17% year to date (YTD), and that decline is the offset to a strong move.

What to Watch Next

The TELUS timeline puts a commercial milestone within the next year on AST SpaceMobile’s calendar. A dated launch schedule from AST SpaceMobile is the next thing to look for, since additional satellites determine how fast carrier agreements become live commercial service.

Planet Labs gives exposure to the same theme through a different revenue stream, selling subscriptions from an operating constellation. Traders may want to keep an eye on whether gains across Planet Labs and the Procure Space ETF hold once the government headline settles.

AST SpaceMobile carries real upside if its carrier agreements convert, yet ASTS stock still sits well below its starting level for the year. Investors weighing their exposure should size their holdings carefully given the undated launch schedule behind AST SpaceMobile’s network.

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