Megaport launches $594 million raise to support $329 million US AI contracts
Business
Megaport, an Australian company, just scored four major AI infrastructure contracts with US tech firms, together worth about $329 million.
To pull this off, it will need to invest heavily in NVIDIA GPUs and network gear, so it is launching a $594 million fundraising round to cover the costs.
The new projects are set to start in the first half of 2027.
Megaport A$350 million AI cloud A$307 million-A$315 million forecast
Megaport plans to spend A$350 million building a global cloud platform for AI that lets businesses tap into powerful GPUs on demand: think flexible access across its 1,100-plus data centers in 31 countries.
With these moves, it has updated its 2026 revenue forecast to A$307 million to A$315 million and is offering shares at a discount to get investors on board.