New York, February 5, 2026, 21:16 EST — Market closed
Shares of AST SpaceMobile Inc (ASTS) fell 9.9% to $93.27 on Thursday, extending losses after AT&T signed a new cloud-and-satellite agreement with Amazon.
AST SpaceMobile is building a space-based cellular broadband network designed to link directly with regular, unmodified mobile devices—what the industry calls “direct-to-device” technology, no special handsets required. Carrier strategies are taking the spotlight, sparking strong investor responses to every update. Reuters
AT&T’s pact with Amazon focuses on fixed broadband for businesses, not mobile phones, but still rattled satellite stocks. MarketWatch pointed out the deal stoked fears about competition from SpaceX’s Starlink and others, triggering steep losses in space firms like AST.
AT&T is teaming up with Amazon Web Services and Amazon Leo on a broader initiative that will move some AT&T workloads onto AWS Outposts. The plan also includes linking AWS data centers with high-capacity fiber and using Amazon Leo’s low-Earth-orbit satellite network to enhance fixed broadband for business customers in regions where traditional service is lacking. “Fiber is the foundation of that future,” Shawn Hakl, AT&T Business product chief, said in a statement. Business Wire
An AT&T spokesperson told Fierce Network that the Amazon Leo deal “does not impact our relationship or plans with AST SpaceMobile.” They stressed the difference between AST’s direct-to-cell service targeting mobility users and Amazon Leo’s fixed broadband offering for enterprise customers. fiercetelecom.com
AST dropped again on Thursday, slipping 9.9% after a 10.6% dive on Wednesday, according to StockAnalysis price data. Volume on Thursday reached about 15.8 million shares.
The timing couldn’t have been worse. U.S. stocks fell yet again Thursday, with the Nasdaq sliding 1.6% and the Russell 2000 dropping 1.8%. That hit volatile, high-growth stocks especially hard.
Traders are closely tracking whether AT&T’s enterprise satellite ventures will stay specialized or expand into wider satellite coverage. AST’s stock has been trading like a proxy for that potential shift.
The downside is clear-cut. Satellite-to-phone services hinge on launch timing, spectrum allocation, and business deals—any of which could shift. Delays risk turning what looks like a growth opportunity into a scramble over funding and delivery.
As Friday approaches, investors are on alert for further comments from AT&T, AWS, Amazon, or AST that might clarify the bigger picture — and whether the recent selloff is drawing in buyers at these reduced prices.
Mobile World Congress in Barcelona is set for March 2–5, a key event where carriers and network vendors often reveal new connectivity plans.
