Chanticleer

NextDC feeds the ducks while they’re hungry

The data centre owner has played the capital markets game superbly to be on the cusp of the top-50 stocks. To stay there, it has to deliver.

Apr 11, 2024 – 11.26am

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Data centre owner NextDC has hit the big leagues – its first $1 billion-plus equity raising that should help catapult it into Australia’s top-50 listed companies.

Fourteen years after floating as an $80 million micro cap, NextDC is riding a wave of customer demand for data centre space and investor appetite for AI’s picks and shovels, to fill its boots, accelerate development at new sites in Sydney and Melbourne and buy more land.

Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.