Why it matters: the emergence of AI will be a boon for infrastructure providers
NextDC said it would spend around $900 million this year on cloud computing
NextDC did not declare a dividend, but shares are up 47 per cent this year
NextDC will spend about $900 million this financial year to support growing customer demand for cloud computing, as the data centre developer and operator maps out how much digital infrastructure will be required for the looming wave of artificial intelligence.
The Brisbane-based company told shareholders that revenues increased 25 per cent to $362.4 million for the 12 months to June 30 and reported an after tax loss of $25.6 million compared with a $9.1 million profit a year earlier.
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Tess Bennett is a technology reporter with The Australian Financial Review, based in the Brisbane newsroom. She was previously the work & careers reporter. Connect with Tess on Twitter. Email Tess at tess.bennett@afr.com
