Starlink Rival Announces Plans to Take on Musk With a $1.5 Billion Satellite Push

AST SpaceMobile, a company developing a cellular broadband network using satellites, has announced plans to take on Elon Musk's Starlink. The company intends to launch up to 60 satellites by 2026, costing an estimated $1.5 billion. The announcement led to a surge in AST SpaceMobile's stock price, as investors see the company's potential to challenge Starlink's dominance in the satellite internet market. The company aims to provide direct-to-cell coverage, allowing users to access the network without the need for specialized equipment. AST SpaceMobile's CEO, Abel Avellan, expressed confidence in the company's ability to deliver a cost-effective and widespread satellite-based broadband service, potentially disrupting the traditional satellite internet landscape. The news highlights the growing competition in the satellite internet industry, with companies vying to provide global connectivity and challenge the market share of established players like Starlink. The success of AST SpaceMobile's ambitious plan will depend on its ability to execute the satellite deployment and secure the necessary funding and regulatory approvals.