Australia’s Megaport, a Brisbane-based network-as-a-service provider, said on June 3 that it had secured four AI infrastructure contracts worth about A$458.9 million (US$329 million) in total and launched a fully underwritten entitlement offer to raise A$827.3 million (US$593 million).

The contracts are with US-based technology providers running AI applications. They are expected to start in the first half of 2027 and will require about A$369.5 million (US$265 million) in capital expenditure, mainly for Nvidia graphics processing units, as well as network and storage infrastructure.

Megaport also said it would build a globally distributed AI inference cloud, anchored by an on-demand graphics processing unit pool backed by A$350 million (US$251 million) in investment, and offered on contracted and usage-based pricing.

The plan builds on Megaport’s existing software-defined connectivity business, which lets customers create connections to cloud and other service providers, and follows earlier efforts to deploy GPUs and connect AI workloads through its platform.

Megaport priced the offer at A$14.30 (US$10) per share, a 13.9% discount to its June 1 closing price, and narrowed its 2026 revenue forecast to A$307 million (US$220 million) to A$315 million (US$226 million) from A$302 million (US$217 million) to A$317 million (US$227 million).

🔗 Source: Reuters

Recent Megaport developments