SYDNEY, June 8, 2026, 00:04 (AEST)
- Megaport finished Friday at A$18.48, up 11.26%. The S&P/ASX 200 dropped 0.70% to close at 8,625.10.
- The ASX will stay shut Monday for the King’s Birthday break. Megaport’s next trading is set for Tuesday.
- Megaport’s retail entitlement offer is set to open June 11, putting retail shareholders on watch for the company’s next move.
Megaport Ltd is going into this holiday-shortened week as one of the hotter AI infrastructure plays on the ASX after shares jumped Friday. That move came on the back of a A$827.3 million equity raise and news of four fresh AI infrastructure contracts.
Australian stocks are closed Monday for the King’s Birthday, so investors have more time to chew over whether Friday’s jump in Megaport was a clear sign of support for its AI compute move or just a quick trade on limited AI exposure.
Megaport shares finished at A$18.48 on Friday, gaining 11.26% after coming back from a trading halt. The S&P/ASX 200 index fell, losing 61 points, or 0.70%, to end at 8,625.10.
The company has pulled in around A$518 million from the institutional part of its fully underwritten entitlement offer, a discounted placement for current investors. Shares were offered at A$14.30 each, with eligible institutions picking up about 99% of what was on the table.
Megaport’s “exceptional outcome” drew institutional backing, CEO Michael Reid said. Reid said the company is pairing its worldwide reach with Latitude.sh’s platform to set up a distributed AI inference cloud. “We’re just getting started. Game on!” he said. ASX Announcements
Megaport is pushing inference, not large-scale model training, as its main offering. The company says its four new contracts add up to A$458.9 million in total contract value. Annual recurring revenue is A$199.0 million. The contracts will need about A$369.5 million in spending on GPUs, CPUs, network and storage.
Megaport said it has signed contracts with U.S. tech providers for AI applications and inference workloads. The company did not disclose customer names, citing competition concerns.
Hebe Chen, market analyst at Vantage Markets, told Reuters Megaport is turning into a “picks-and-shovels player” in the AI buildout. Chen said the new GPU pool may move Megaport “further up the value chain,” shifting from just linking data centres and cloud platforms to supporting firms looking for AI computing power. Reuters
The company narrowed its FY26 outlook. It sees revenue between A$307 million and A$315 million and is guiding for EBITDA at 21% to 24% of revenue. Capex is forecast at A$90 million to A$100 million, not counting strategic initiatives.
Megaport’s retail entitlement offer kicks off 9 a.m. Sydney time Thursday, June 11, and runs to 5 p.m. June 29. New shares from the institutional offer should start normal trading on June 15.
Brokers gave the market a boost Friday. Analysts at JPMorgan, UBS, RBC Capital Markets, and Macquarie are sticking with positive calls on Megaport, according to Market Index. They also raised targets, saying contract economics, the company’s network, and the chance of joining the ASX 100 are in focus.
The deal brings Megaport into the mix with Australian infrastructure stocks tapped for AI projects, like NEXTDC in data centres and Superloop for connectivity. But Megaport goes with a different approach: it offers software-driven compute, network and storage across outside sites, instead of just running its own data centres.
The risk is clear. Megaport has loaded up on a big capex program linked to GPU demand, tech delivery and use. In its filings, the company lists threats like weaker GPU rental rates, a jump in costs, other chip options, long-term payment deals, rising energy bills and rivals from telcos, data-centre firms and cloud groups.
The focus this week skips Monday, with no trading then. Eyes go to Tuesday, to see if buyers call the discounted offer a sign of growth, and if retail holders pile in behind institutions before fresh shares land on the market.
