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NextDC has raised $550 million, with plans to raise another $200 million, to acquire new data centre development sites in Asia.
The Asian developments aim to expand the company’s regional data centre development pipeline.
The targeted Asian development sites are not included in the company’s updated FY25 capital expenditure guidance or existing funding plan.
On 11 September, NextDC stated to the Australian Securities Exchange that the placement shares were issued at $17.15 per share, representing a 1.8 per cent discount to the five-day volume weighted average price and a 3.9 per cent discount to the last close.
NextDC CEO Craig Scroggie stated that as AI continues to drive demand for accelerated computing, the need for scalable, high-performance digital infrastructure has become vital.
“This successful placement ensures that NextDC is well-positioned to meet the growing needs of the cloud and AI ecosystems while seizing new opportunities in a rapidly evolving market,” Scroggie said.
Scroggie stated that the data centre company’s focus remains on maintaining the agility and innovation required to power the next generation of AI-driven technologies.
Based on its existing portfolio of data centre sites, NextDC’s plans in Asia will eventually add more than one gigawatt of planned capacity.
During the last month, the data centre operator officially opened a data centre in Adelaide and the Northern Territory.
On 28 August, ARN reported that NextDC had recorded “another record result” once again for its 2024 financial year, with rises in revenue and earnings before interest, tax, depreciation and amortisation while its statutory loss after tax doubled.
The company expects its billion-dollar facility in Malaysia, announced in June 2023, will be expected to be ready for its first customers in 2025.