AST SpaceMobile stock rises after securing $175 million stc deal By Investing.com
Update: 2025-10-29
Description
AST SpaceMobile and stc group form a ten-year partnership to bring high-speed satellite broadband to Saudi Arabia and Africa, using regular smartphones. The deal includes a $175 million prepayment and promises significant long-term revenue. AST SpaceMobile will build new ground gateways and a Network Operations Center in Saudi Arabia, while stc group aims to lead digital innovation in the region. Commercial services are expected to launch in late 2026, potentially closing connectivity gaps and transforming work, learning, and communication in remote communities.
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