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NVIDIA and SoftBank Trial "AI+5G" AST SpaceMobile (ASTS.US) Rises More Than 21%

Market IntelWednesday, Nov 13, 2024 6:00 pm ET

1min read

On Wednesday, AST SpaceMobile (ASTS.US) soared more than 21% during trading, reporting at $29.52. On the news front, "AI king" Nvidia and SoftBank Corp, the telecommunications unit of SoftBank Group, said they have run a trial of the world's first AI and 5G telecommunications network. The two companies said the platform can run AI and 5G workloads simultaneously, a combination called AI-RAN in the telecommunications industry. Its applications will include remote support for self-driving cars and robot control.

AST SpaceMobile Inc is a satellite design and manufacturing company. The company is building a cellular broadband network in space that can directly connect to standard, unmodified mobile devices and off-the-shelf mobile phones, based on its extensive intellectual property and patent portfolio. It focuses on eliminating connectivity gaps for mobile users and ultimately bringing broadband to the billions still unconnected.

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