Australia's X2M Connect soars on $180 mln AI data centre deal

X2M Connect

27/08/2026 06:38

** Shares of Australia's X2M Connect X2M.AX rise as much as 350% to A$0.0090, marking their biggest intraday pct gain ever 
** Shares hit their highest level since Feb 9
** Data centre tech firm signs agreement to design and operate an AI-enabled data centre 
** Co says deal is the first customer contract for X2M's data centre business and the first conversion from its broader Australian data centre pipeline of roughly 150 megawatt
** Adds estimated project cost is in excess of A$250 million  ($179.55 million) over a three-to-five-year period 
** More than 360 million shares change hands, about 66.8x the 30-day average
** Stock down 18.8% YTD, including session's moves 

($1 = 1.3924 Australian dollars)

 (Reporting by Subhalakshmi Dey in Bengaluru)
 ((Subhalakshmi.Dey@thomsonreuters.com;))