AST SpaceMobile Inc. (NASDAQ:ASTS) shares are trading higher Monday morning. Investors are weighing renewed optimism around the U.S. wireless spectrum market after FCC Chairman Brendan Carr last week said that upcoming spectrum auctions could generate more than $100 billion in proceeds over the next several years.

The FCC voted in July 2026 to auction 160 MHz of mid-band spectrum in the Upper C-band in 2027, followed by three additional auctions that the agency aims to complete by the end of 2028.

Here’s what investors need to know.

Regulatory Tailwinds For Satellite Connectivity

The FCC’s recent actions represent a broader push toward expanding spectrum availability for space-based communications and direct-to-device services. On August 9, the agency proposed exploring the use of 200 MHz of unlicensed spectrum for direct-to-device satellite connectivity. On September 9, the FCC announced actions that could unlock more than 1,000 MHz of spectrum in the 12.7 GHz and 42 GHz bands for space services.

AST SpaceMobile is positioned to benefit from the broader regulatory momentum surrounding direct-to-device connectivity. On April 21, the FCC approved AST SpaceMobile’s application to deploy and operate a constellation of up to 248 satellites and provide Supplemental Coverage from Space using mobile spectrum in coordination with Verizon, AT&T and FirstNet. The approval was publicly announced on April 22.

The opportunity comes with substantial capital requirements. AST SpaceMobile reported approximately $145 million of cash used in operating activities and $859 million of property-and-equipment purchases during the first six months of 2026, through June 30. Third-party financial data puts the company’s trailing free cash flow at roughly negative $1.74 billion, reflecting the capital-intensive nature of its satellite deployment program.

While the FCC’s expanding support for satellite and direct-to-device connectivity could improve the industry’s regulatory backdrop, the ultimate impact on AST SpaceMobile will depend on constellation deployment, commercial service availability, spectrum arrangements and execution.

ASTS Stock Climbs Monday Morning

ASTS Price Action: AST SpaceMobile shares were up 6.19% at $62.14 at the time of publication on Monday, according to Benzinga Pro data.

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