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AST SpaceMobile Surges 21% as Japan Announces $926M Subsidy for Rakuten Satellite Network

2026-06-30 03:19:49

According to Nikkei, AST SpaceMobile (ASTS) stock jumped 21% to $86.77 on Monday (June 29) as Japan's government announced 150 billion yen ($926 million) in subsidies to a Rakuten Group-led consortium developing a satellite communications network with AST SpaceMobile. The subsidy will fund equipment procurement, ground facilities, and systems needed to launch and control low Earth orbit satellites over three years, with a formal decision by Japan's Ministry of Internal Affairs and Communications expected soon.

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