Why AST SpaceMobile Is the Bigger Winner of the AT&T, T-Mobile, and Verizon Joint Venture
- by lulegacy
- May 20, 2026
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Read now. Do not delete. You’ve been warned.
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In terms of actual geography, there are roughly 500,000 square miles of U.S. land that falls into a terrestrial dead zone.
That has been a massive opportunity for SpaceX’s Starlink, which provides D2D services via Starlink Mobile, most notably through T-Mobile’s communication network. As a result, the Elon Musk-led company controls an estimated 90% of the commercial satellite broadband market and 60% of all active broadband-providing satellites.
According to Wireless Estimator, that market dominance was the principal motivator for the big three carriers to create an alliance, which enables them to circumvent Musk’s ability to dictate service terms. The joint venture between AT&T, T-Mobile, and Verizon signals a push for a more competitive landscape, which will enable multiple space-based operators—including AST SpaceMobile—to take market share from SpaceX.
The competitive ambitions were reinforced by comments from AT&T CEO John Stankey, who, in the wake of the agreement, said, "This collaboration not only makes connectivity easier; it strengthens America’s communications leadership."
In the same article, Wireless Estimator noted that the joint venture sends a message to the market—and to potential SpaceX investors—that the companies intend to maintain control over how satellite connectivity reaches their customers.
As the primary D2D broadband service competitor to Starlink, AST SpaceMobile is poised to benefit from that more competitive environment.
Investors Will Need to Remain Patient
Long term, the growth story remains intact.
The Midland, Texas-based company’s stock continues to deal with elevated volatility, as evidenced by its current beta of 2.60.
However, the company’s balance sheets look strong despite a sizable debt load that is typical of high-growth companies.
AST SpaceMobile reported $3.5 billion in cash, cash equivalents, and restricted cash as of March 31. Additionally, its financial health has been in the TradeSmith Green Zone for over 13 months.
The copmany only recently begun generating revenue, but backing from partners including AT&T, Verizon, Vodafone
NASDAQ: VOD
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