Space Equities Continue Slide Post- AT&T-Amazon Cloud, Satellite Partnership

(Dallas, Texas & Seattle, Washington) Shares of AST SpaceMobile (NASDAQ: $ASTS) and GlobalStar (NASDAQ: $GSAT) continued to slide with the broader space sector today (Feb. 5) pre-market, in the wake of yesterday’s (Feb. 4) announcement from AT&T (NYSE: T) and Amazon (NASDAQ: AMZN) about a telecom partnership with Amazon.com’s cloud computing business and satellite partnership, and in the midst of a slide among software equities.

Rendering of an AST SpaceMobile satellite courtesy of Business Wire via Bloomberg.

According to Investor’s Business Daily, however, the AT&T deal with Amazon’s AWS and satellite businesses appears focused on fixed wireless services to business and enterprise customers rather than satellite-enabled mobile phones for consumers.

Per IBD, Amazon is still testing its Project Kuiper satellite-based internet service, which will compete with SpaceX’s Starlink business if expanded commercially, after announcing Project Kuiper six years ago. Specifically, Project Kuiper hopes to launch more than 3,000 satellites to offer internet connectivity to 400 million to 500 million households, as well as governments and enterprises. As of early February 2026, SpaceX has launched more than 11,000 Starlink Satellites – with reports of more than 9,600 operational – making it the largest satellite network in history. The first 60 Starlink Satellites launched on May 23, 2019, aboard a SpaceX Falcon 9 rocket.

Per yesterday’s press release from Amazon and AT&T, AT&T, Amazon Web Services (AWS) and Amazon Leo are working “to modernize the nation’s connectivity infrastructure and unlock the next wave of cloud driven innovation for U.S. businesses.”

AT&T will migrate workloads from several of its current on-premises technologies to AWS’s on-premises, managed hybrid cloud offering, AWS Outposts, to improve the speed of its internal transformation and operational efficiency, according to the press release.

Additionally, AT&T will collaborate with Amazon Leo – Amazon’s low Earth orbit (LEO) satellite network, to provide internet connectivity services to AT&T, enabling AT&T to broaden its connectivity capabilities and deliver fixed broadband services to business customers in areas where such services are needed,” per yesterday’s press release from Amazon and AT&T.

Amazon is scheduled to report 4Q2025 earnings later today.

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