Alphabet Owns 8.9 Million Shares Of This Hot Space Stock….

By Courtney Carlsen – Mar 7, 2026 at 6:05PM EST

Key Points

Alphabet, Google’s parent company, was an early investor in AST SpaceMobile and currently holds 8.9 million s.
AST SpaceMobile is a satellite company looking to provide global cellular coverage from low Earth orbit.
It aims to launch a constellation of 45 to 60 satellites for continuous coverage in key markets by the end of the year.

AST SpaceMobile Stock Quote

NASDAQ: ASTS

AST SpaceMobile

Today’s Change

(-4.60%) $-4.32

Current Price

$89.54

Key Data Points

Market Cap

$26B

Day’s Range

$89.53 – $100.31

52wk Range

$18.22 – $129.89

Volume

507K

Avg Vol

16M

Gross Margin

-14399.31%

Alphabet was an early investor in AST SpaceMobile

AST SpaceMobile is an early-stage satellite company that has moved past research and development and into commercial operations. The company is developing a global cellular-broadband network in low Earth orbit to provide high-speed connectivity to standard mobile devices.

Alphabet first invested in AST SpaceMobile through convertible notes in early 2024. Alphabet, along with AT&T and Vodafone, was an early investor in these convertible notes, which were convertible into common stock at $5.75 per .

As part of the agreement, AST SpaceMobile could force conversion if the stock price traded at 130% above the conversion price for 30 days, which it did in early 2025. As a result, the company told holders, including Alphabet, that it would convert these notes into nearly 26 million s. Alphabet’s portion of this represented the 8.9 million s that it continues to hold today.

A concept image shows several satellites orbiting Earth.

Image source: Getty Images.

In recent years, the company has secured major commercial and government contracts with 50 mobile operators that serve 3 billion subscribers worldwide. It has also secured contracts with the U.S. government, including a $43 million contract to support the Space Development Agency (SDA) and a $20 million contract with the Defense Innovation Unit through a prime contractor to support communications over land, sea, and air.

What’s next for AST SpaceMobile in 2026

AST SpaceMobile has done a good job securing major deals with communications providers and the U.S. government. Next up for the satellite operator will be deploying its satellite constellation to enable continuous coverage across key markets in the U.S., Europe, and Japan. To accomplish this, the company aims to have between 45 and 60 satellites in orbit by the end of this year.

So far, the company has deployed six of its BlueBird satellites into space. Five of those are its smaller satellites with a 693 square-foot communications array. At the end of last year, the company launched its sixth satellite, a next-generation 2,400 square-foot model that is currently the largest communications satellite array deployed in low Earth orbit. A seventh satellite was encapsulated with Blue Origin’s New Glenn launch vehicle, which was scheduled to launch this month.

Longer term, AST SpaceMobile aims to build a constellation of satellites providing continuous coverage across key markets, with the goal of deploying 90 to 100 satellites in low Earth orbit. Getting there will require significant capital, as each BlueBird satellite costs between $21 million and $23 million.

The good news for investors is that AST SpaceMobile has built up its war chest. At the end of last year, the company had nearly $2.8 billion in cash and equivalents. It raised another $1 billion in February through convertible senior notes and has $80 million in liquidity remaining under its existing at-the-money equity facility.

Is AST SpaceMobile stock right for you?

Looking ahead, analysts covering the stock expect AST SpaceMobile to generate $178 million in revenue this year, $805 million in 2027, and $2 billion by 2028. Those analysts also expect the company to turn a full-year profit by 2028.

AST SpaceMobile has strengthened its balance sheet, and management told investors during its most recent earnings call that it is now fully funded to manufacture and launch a constellation of 100 satellites, which would be enough to provide continuous cell service across the globe. The fact that the company is now fully funded is a good sign for investors.

That said, the stock isn’t cheap by any means, and it currently trades at 155 times this year’s projected sales and around 81 times the company’s projected 2028 earnings. For that reason, AST SpaceMobile stock is best left to aggressive investors betting on its growth ahead who can stomach the volatility that comes with it.