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Australian AI Data Centre Operator NextDC Shares Shed 44% on Revenue Delay
- Following a trading halt, NEXTDC shares resumed trading at $5.30, plunging after the company slashed FY27 guidance due to grid connection delays at its Melbourne data centre in West Footscray.
- Jemena Electricity Networks suspended network works required for the Melbourne data centre's power supply, citing safety concerns and community opposition, with work not expected to resume before early 2027.
- Revised FY27 net revenue guidance is now $475 million to $500 million, down from prior estimates of $615 million to $640 million, as the company defers $140 million in contracted customer revenue.
- Management reduced capital expenditure guidance to $4.5 billion to $5 billion, pausing new developments not backed by customer contracts while evaluating potential sales of development sites to recycle capital.
- With $8.7 billion in liquidity, the company plans to provide further updates by the Annual General Meeting in late 2026, as it works through planning and grid supply challenges.
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21 Articles
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Australian AI data centre operator NextDC shares shed 44% on revenue delay
SYDNEY Oct 21 : Australian data centre operator NextDC shed nearly half of its market capitalisation on Wednesday after sharply cutting revenue forecasts for the year ahead and putting future developments on hold, extending the burst of negative sentiment towards global AI stocks.The company said delays to e
·Singapore, Singapore
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It’s a stock bloodbath as NextDC puts data centres on hold
NextDC’s shares have plummeted after the data centre operator said it was considering force majeure options and cut earnings guidance as community opposition delayed one of its major projects in Melbourne.
·Osborne Park, Australia
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Total News Sources21
Leaning Left1Leaning Right5Center6Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
C 50%
R 42%
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