AST SpaceMobile, Inc. (ASTS) experienced a significant intraday surge of 8.72% on Tuesday, continuing its strong positive momentum in the market.

The rally is primarily driven by the announcement that AT&T, T-Mobile, and Verizon plan to form a joint venture to advance satellite direct-to-device services aimed at eliminating coverage dead zones across the United States. AST SpaceMobile stands as the core technology provider, with its system described as the only one globally capable of delivering hundreds of megabits per second of space-based broadband to unmodified smartphones.

Additional catalysts include the company's reaffirmed target to launch 45 satellites this year and the significant cost benefits of the joint venture, which is expected to reduce per-carrier integration costs by 60% to 80%. The company has also secured over $1.2 billion in commitments from global operators and the U.S. government, supporting its growth trajectory.