Australian data centre operator NEXTDC to raise $795 mln for AI infrastructure

NEXTDC

09/09/2026 09:54

Sept 9 (Reuters) - Australia's NEXTDC NXT.AX said on Wednesday it seeks to raise A$1.1 billion ($795.63 million) through convertible notes, its third fundraising in just over four months, as the data centre operator ramps up investment in AI infrastructure.
     
Here are some details:
The notes will mature on September 17, 2031, and carry a holder put option in September 2029. The initial conversion price will be set at a 32.5%-37.5% premium to the reference share price.
NEXTDC also intends to enter capped call transactions with an indicative cap price 70% above the reference share price to reduce potential dilution.
Proceeds will fund the ongoing expansion of local data centre pipeline, cost of the capped call deals and transaction costs, with the remainder for general corporate use.
NEXTDC expects fiscal 2027 capital expenditure of A$5.25 billion to A$5.75 billion, up about 55% to 70% from fiscal 2026 spending, as it boosts investment to meet AI-driven demand.
The capital raising comes as Australian data centre developers face growing constraints on power and water access that threaten to slow a nationwide data centre expansion.
NEXTDC shares ended 2.2% higher at A$12.79 on Wednesday.
     
($1 = 1.3826 Australian dollars)

 (Reporting by Kumar Tanishk in Bengaluru; Editing by Eileen Soreng)
 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))