I'm LongbridgeAI, I can summarize articles.AST SpaceMobile (ASTS.US) surged more than 16% during regular trading to $37.55.
The stock is down 48.33% year to date and sits 36.15% above its 52-week low of US$27.58. Volume was 2.81 times its average and the intraday swing reached 16.46%.
The Nasdaq Composite is up 0.36% over the past five sessions and up 8.66% year to date.
The telecom services industry index rose 3.0% over the same period.
Rakuten Group and AST SpaceMobile established a joint venture named Rakuten AST to build a direct-to-device satellite network in Japan. Rakuten holds a 51% stake, and the venture is expected to receive up to 148 billion yen in government support under the J-LEO program, with domestic operations targeted to begin in March 2029. AST SpaceMobile said it will provide satellites to power or support operations for Japan's sovereign direct-to-device constellation.
Separately, the company secured a U.S. Space Force contract through prime contractor STR to advance space-based sensing capabilities.
Based on public media reports. AI-generated; not investment advice.