Verizon teams with AST SpaceMobile on space-based cellular service

Core Insights - Verizon has entered into a partnership with AST SpaceMobile to provide cellular service from space, set to begin next year, which has led to a significant increase in AST SpaceMobile's stock price by over 10% prior to market opening [1] - The agreement aims to enhance Verizon's 850 MHz premium low-band spectrum coverage in the U.S. by leveraging space-based broadband technology [2] - The deal follows the appointment of Dan Schulman, former PayPal CEO, as Verizon's new CEO, succeeding Hans Vestberg, who will remain as a special adviser until October 2026 [3][4] Company Developments - AST SpaceMobile's network will utilize its own licensed L-band and S-band spectrum, along with up to 1,150 MHz of low- and mid-band spectrum from mobile network operator partners globally [1] - The financial details of the agreement have not been disclosed, but it builds on a strategic partnership initiated in early 2024 [2] - Verizon's integration of terrestrial and space-based technologies is aimed at achieving universal connectivity, regardless of geographic limitations [3]