NEXTDC Raises $500 Million for Asian Expansion to Capitalize on AI Boom

NextDC Raises AUD 550 Million for Further Asian Expansion

Upcoming expansions include a new hyperscale facility in Bangkok and additional sites in Malaysia. Australian data center provider NextDC announced that it has successfully raised approximately AUD 550 million through the issuance of approximately 32.1 million new shares. Further to the company's ASX announcement dated September 10, 2024, the placement shares were issued at AUD 17.15 per share, representing a 3.9 percent discount to Tuesday's close. Also Read: NextDC Launches 5 MW Data Center in Adelaide, Australia The proceeds from the capital raising will be used for acquiring new data center development sites in Asia, as well as for general corporate purposes and transaction costs. The newly acquired Asian sites are expected to expand the company's data center development pipeline in Asia, which in due course will also add to NextDC's planned capacity of over 1GW based on its existing portfolio of data centre sites, the exchange filing said. "NextDC continues to see opportunities in the growing cloud and AI-led demand for digital infrastructure throughout its core Asian markets, which it believes creates strong tailwinds for NextDC," the company said. Also Read: EcoDataCenter Acquires Site in Borlange, Sweden, for 240MW Campus Additionally, NextDC said it is actively evaluating and planning its expansion into new markets, including site evaluation and negotiation in Bangkok, Thailand (BK1) and Johor, Malaysia (JB1). In FY24, NextDC received foreign investment approval from Thailand's Board of Investment (BOI) to build a new hyperscale facility in Bangkok. Part of the capital raised will be used to develop this facility once a suitable site has been acquired. Meanwhile, the planned JB1 development is expected to expand the company's presence in Malaysia, with the completion of KL1 anticipated in FY26. NextDC said, "While the company is already well-placed from a liquidity perspective to continue accelerating its development activities, it is becoming clear that opportunities for value-accretive investments in the near term will continue to grow in line with our record pipeline and strong demand for cloud and AI services." Also Read: Beyond.pl to Expand Poznan Data Center Capacity to 150 MW for AI Demand The placement received strong support from NextDC's existing shareholders and new investors, the exchange filing said. Settlement of the new placement shares is expected to occur on September 13, 2024, with allotment and normal trading starting on September 16, 2024.

Australia's NEXTDC Plans to Raise $500 Million to Tap AI Boom Via Asian Expansion

(Reuters) - Australian data centre operator NEXTDC said on Tuesday it was looking to raise a total of A$750 million ($500.33 million) to expand its data centre pipeline in Asia, tapping further into the global artificial intelligence frenzy. "NEXTDC continues to see opportunity in the growing cloud and AI-led demand for digital infrastructure throughout its core Asian markets, which it believes creates strong tailwinds for NEXTDC", the firm said in a statement. NEXTDC said the capital raising will be done through a placement of A$550 million and a share purchase plan capped at A$200 million, with the placement priced at A$17.15 per share. The price represents a discount of 3.9% to Tuesday's close. Countries and companies are showing growing interest and demand for data centres across the Asia Pacific as the AI boom fuels demand for digital infrastructure. In a similar move earlier this month, Blackstone announced its largest investment in the Asia-Pacific region in an A$24 billion deal to buy Australian data centre group AirTrunk. The data centre operator also revised upwards its capital expenditure guidance for fiscal 2025 to a range of A$1.3 billion to A$1.5 billion on Tuesday, from the previous forecast of A$900 million to A$1.1 billion. ($1 = 1.4990 Australian dollars) (Reporting by Shivangi Lahiri in Bengaluru; Editing by Rashmi Aich)

Australia's NEXTDC plans to raise $500 million to tap AI boom via Asian expansion

(Reuters) - Australian data centre operator NEXTDC said on Tuesday it was looking to raise a total of A$750 million ($500.33 million) to expand its data centre pipeline in Asia, tapping further into the global artificial intelligence frenzy. "NEXTDC continues to see opportunity in the growing cloud and AI-led demand for digital infrastructure throughout its core Asian markets, which it believes creates strong tailwinds for NEXTDC", the firm said in a statement. NEXTDC said the capital raising will be done through a placement of A$550 million and a share purchase plan capped at A$200 million, with the placement priced at A$17.15 per share. The price represents a discount of 3.9% to Tuesday's close. Countries and companies are showing growing interest and demand for data centres across the Asia Pacific as the AI boom fuels demand for digital infrastructure. In a similar move earlier this month, Blackstone announced its largest investment in the Asia-Pacific region in an A$24 billion deal to buy Australian data centre group AirTrunk. The data centre operator also revised upwards its capital expenditure guidance for fiscal 2025 to a range of A$1.3 billion to A$1.5 billion on Tuesday, from the previous forecast of A$900 million to A$1.1 billion. (Reporting by Shivangi Lahiri in Bengaluru; Editing by Rashmi Aich)

Australia's NEXTDC plans to raise $500 million to tap AI boom via Asian expansion

(Reuters) - Australian data centre operator NEXTDC said on Tuesday it was looking to raise a total of A$750 million ($500.33 million) to expand its data centre pipeline in Asia, tapping further into the global artificial intelligence frenzy. "NEXTDC continues to see opportunity in the growing cloud and AI-led demand for digital infrastructure throughout its core Asian markets, which it believes creates strong tailwinds for NEXTDC", the firm said in a statement.