NEXTDC to Raise $1.1 Billion to Meet Data Center Demand

Australian data center operator NEXTDC Ltd. will undertake a A$1.5 billion ($1.1 billion) capital raising, boosting its coffers as demand for capacity at its facilities surges.

Data center appetite continues to grow rapidly in Australia, underpinned by “strong demand from hyperscale and artificial intelligence customers,” the company said in a stock exchange filing. The country is emerging as a regional hot spot for the facilities, drawing investment alongside the growing adoption of artificial intelligence services.