Vancouver, March 4, 2026, 15:55 (PST)
- AST SpaceMobile shares jumped roughly 13% after investors zeroed in on a fresh carrier agreement with Telus.
- Telus plans to put money into ground infrastructure and will also take an equity stake in AST SpaceMobile.
- AST picked up a separate deal with Africa’s AXIAN Telecom to push ahead with direct-to-device service, pending approvals.
Shares of AST SpaceMobile surged Wednesday, following news that Telus Corp of Canada will invest in the company. Telus also plans to fund ground infrastructure through a deal aimed at expanding satellite-to-phone coverage throughout Canada.
The agreement comes as telecom operators hunt for solutions to dead zones and seek backup connections in the event of storms, wildfires or conflict taking out ground-based networks. The idea, known as direct-to-device (D2D), is simple: any standard smartphone links directly to a satellite—no special handset required.
AST is still putting its network together, so every new carrier agreement edges it closer to converting satellites into actual service revenue. That puts extra heat on competitors in the same race, where both size and speed make a difference.
Telus has inked a commercial deal with AST, aiming to roll out satellite-enabled texting, voice, and data to Canada’s remote regions by late 2026. “We’re eliminating connectivity gaps across Canada,” said Telus Networks CTO Nazim Benhadid. AST’s chief commercial officer Chris Ivory added that the move will “provide seamless mobile coverage from city centers to the most isolated regions.” 1
AXIAN Telecom has teamed up with AST to roll out what it’s billing as Africa’s first D2D space-based mobile broadband service, offering voice, video, and data to spots unreachable by land networks—think maritime and aviation zones. “Not just those in cities,” is how AXIAN CEO Hassan Jaber described the target users. AST president Scott Wisniewski said Africa represents “a critical part of the global connectivity landscape.” Actual service availability depends on securing regulatory approvals in the respective markets, the companies noted.
Late Wednesday, AST SpaceMobile shares hovered near $104.89, giving the company a market value close to $17.6 billion after a roughly 13% jump for the day.
Competition is intensifying. Veon CEO Kaan Terzioglu, leading the company’s Starlink rollout in Ukraine, said he expects “every Ukrainian to consider having the ability to connect to satellite.” Veon is also talking with Amazon’s Project Kuiper, AST SpaceMobile, and Eutelsat OneWeb. 2
AST is developing a cellular broadband network in space, aiming for compatibility with regular mobile phones—no modifications needed. The company’s plan centers on a constellation of low Earth orbit satellites, positioned just a few hundred kilometres above the surface, a lot closer than traditional communications satellites. 3
The companies haven’t revealed how much equity Telus plans to take, nor did they provide details on the investment value for ground infrastructure.
The schedule remains fluid. Launch dates for satellites often shift, and constructing ground gateways doesn’t happen overnight. Service rollout hinges on securing radio spectrum and navigating regulatory hurdles in each market. Major players like Starlink and Kuiper—armed with hefty resources—might push prices lower if multiple networks go live concurrently.
Investors want to see concrete rollout dates, regulatory checkpoints, and evidence that AST is turning its expanding roster of carrier partners into steady service revenue—especially as competition threatens to heat up.
