AST SpaceMobile Rises 4% as Europe’s Largest Carriers Explore Joint Satellite Spectrum Bid; SpaceX and Rocket Lab Edge Higher

Europe’s four largest wireless carriers are moving toward a coordinated satellite spectrum push, and AST SpaceMobile (NASDAQ:ASTS) is central to the effort. AST SpaceMobile stock is up 4% to $42.24 in early trading, outpacing the space names around it. The gain follows a company press release stating that its carrier partners signed a letter of intent to explore a potential joint bid for mobile satellite services spectrum.

Meanwhile, SpaceX (NASDAQ:SPCX | SPCX Price Prediction) stock is at $147.45, up 0.9%, a smaller gain than AST SpaceMobile stock. Rocket Lab (NASDAQ:RKLB) shares are up 2%, also trailing AST SpaceMobile stock.

Carrier Spectrum Letter Lifts AST SpaceMobile

AST SpaceMobile stated that its mobile network operator partners, which it described as Europe’s four largest carriers, signed the letter of intent to explore a potential joint bid for mobile satellite services spectrum. Through its regional joint venture, Satellite Connect Europe, the company is providing European-operated ground infrastructure that links its BlueBird satellites to the carriers’ core networks.

This letter covers only a potential spectrum bid, and AST SpaceMobile’s release names no financial terms. It stops short of a commercial agreement, so it adds no signed revenue yet.

AST SpaceMobile Runs Ahead of the Space Group

The Procure Space ETF (NASDAQ:UFO) is up 1%, trailing AST SpaceMobile stock by a wide margin. AST SpaceMobile accounted for 4% of the fund’s net assets as of July 31, and the ETF also held shares of SpaceX and Rocket Lab. Across the wider market, the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is up 0.49%.

This spread marks the rally as specific to AST SpaceMobile stock. SpaceX runs its own direct-to-cell service through Starlink, which competes with the carriers’ satellite plans.

BlueBird Fleet Backs the Carrier Pitch

AST SpaceMobile has 13 BlueBird satellites in orbit and is targeting about 45 by early 2027. Its carrier partners together cover more than 3 billion subscribers, giving a European spectrum push a large potential customer base.

Ground infrastructure is moving in parallel at AST SpaceMobile. The company has nearly 50 gateways in various stages of completion, installation and planning across five continents.

Caution still fits for AST SpaceMobile, given its latest results. In its Q2 2026 report, the company posted revenue of $31.52 million, missing expectations, along with a loss of $0.77 per share under generally accepted accounting principles that also fell short.

Management at AST SpaceMobile confirmed revenue guidance of $150 million to $200 million for the year and expects quarterly sales to climb as the year progresses. Following its recent convertible notes offering, the company’s pro forma liquidity tops $3.7 billion, which gives it room to keep building satellites. Those funds sit alongside a signed revenue backlog of roughly $1.3 billion from commercial partners and U.S. government awards.

AST SpaceMobile’s European Carrier Partners Hold the Next Step

AST SpaceMobile’s next step depends on the carriers’ spectrum bid. Investors can watch for whether that bid becomes a commercial agreement that turns the letter of intent into signed revenue.

The upside case for AST SpaceMobile rests on carriers moving toward European spectrum, while the downside points to no financial terms, a Q2 revenue miss and competition from SpaceX. Until a commercial agreement is reached, bullish holders should keep their exposure moderate.

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