SYDNEY, June 10, 2026, 03:02 AEST
- NEXTDC closed at A$15.79, slipping 0.44%. The stock moved between A$14.81 and A$15.83 earlier today.
- S&P/ASX 200 slipped 0.24% Tuesday, pulled down by weakness in miners and the broader materials sector.
- Investors are looking at NEXTDC’s record data-centre demand, but also factoring in the higher costs and execution risks with the company’s larger expansion plans.
NEXTDC Ltd faces another test at the ASX open on Wednesday after shares dropped on Tuesday. The data-centre stock is still seen as one of the clearer plays on artificial intelligence infrastructure.
Shares ended Tuesday at A$15.79 in Sydney, off 0.44% at 4:15 p.m. Volume came to 2.64 million shares, topping the 2.53 million average. The stock fell as low as A$14.81 before regaining most of the drop.
The stock was not trading in the main session as of the dateline. The ASX starts normal cash-market trading at about 09:59:45 Sydney time, finishing at 16:00, then holds its closing auction.
Why it matters now: NEXTDC is seen as a bet on Australia’s push into AI infrastructure, so the shares react to moves in tech stocks, changes in funding costs and power supply, and how much of contracted demand ends up on the books as actual revenue.
Australia’s S&P/ASX 200 slipped 0.24% on Tuesday, as gold, metals and mining, and materials names weighed. Losers beat winners 798 to 402 on the Sydney exchange. The broader tape didn’t offer support.
ASX volatility showed up again as the index dropped by as much as 134 points before bouncing back hard, IG analyst Tony Sycamore wrote. He linked the early slide to Wall Street weakness and a solid U.S. jobs report, saying that brought forward forecasts for Federal Reserve rate hikes.
NEXTDC’s move drew attention. The company is a big player in Australia’s listed tech sector. As of June 9, Betashares’ S&P/ASX Australian Technology ETF gave NEXTDC a 9.7% weight in its portfolio. That put it behind Computershare, but above Xero, Technology One and WiseTech Global.
NEXTDC’s investor centre shows why the stock stays popular with investors. The company reports FY25 EBITDA at A$216.7 million and net revenue at A$350.2 million. Contracted utilisation for FY25 is 244.8 megawatts. EBITDA, or earnings before interest, tax, depreciation and amortisation, is a typical way analysts gauge operating profit before finance costs and non-cash items.
NEXTDC’s latest shareholder update puts the focus on its forward book. The company said committed data-centre power capacity jumped 60% to 667 MW since Dec. 31. Forward orders, which are signed but not yet billing, rose 83% to 544 MW. NEXTDC said these contracts should produce more than A$1.0 billion in contracted EBITDA.
Expanding is costing NEXTDC. The company said in May it lined up A$1.8 billion in fresh senior debt, bringing its total available senior debt facilities to A$8.2 billion. Estimated pro forma liquidity is around A$8.4 billion.
NEXTDC Chief Executive Craig Scroggie described the wholesale notes deal as “another important step” in the capital plan. The company priced and allocated A$750 million of subordinated notes in April.
AI ties are already in play. Reuters said in December that NEXTDC signed an MoU with OpenAI on a planned hyperscale AI campus and GPU supercluster at the S7 site in Eastern Creek, Sydney. That deal could bring 550 MW of capacity. “This is a significant step for NEXTDC,” Michael McCarthy, CEO of AU & NZ at Moomoo, told Reuters. Reuters
Tech stocks traded mixed Tuesday, according to Google Finance. Megaport gained 3.03%, but WiseTech Global fell 4.55%, and Xero slipped 1.07%. Investors didn’t move on the entire sector as a group.
But the risk is obvious. Data-center demand might be strong, but profits can get lost in the mix—power bills, cooling, debt, approvals, and slow builds all hit returns. McCarthy raised power costs as an issue and warned that investor optimism “could sour over time as reality bites.” That lines up with the way the market bounces between chasing AI names and worrying about all the spending. Reuters
