Explore the latest developments concerning Data centre carnage.
Shares in this data centre company are down 40% as investors lose faith in the AI story
For two decades, data centres were relatively safe, lucrative real estate investments. They attracted investors because they served as digital infrastructure — the essential plumbing that keeps the internet running.
The growth of artificial intelligence (AI) and its increased demands on computing power has meant data centre builders are in a race to build out sufficient supply.
But in the past two weeks, investors have started to have genuine concerns about the long-term viability of these businesses. On Wednesday, shares in NextDC, one of Australia’s largest data centre builders, collapsed by 40% after it said delays at its flagship Melbourne site meant its revenue forecasts would fall short of forecasts.
NextDC: Neighbourhood power pole dispute wipes billions in value off Australian data centre giant
A neighbourhood dispute over towering concrete power poles in Melbourne has helped wipe $2.9 billion off the value of one of Australia’s biggest data centre companies.
NextDC shares nosedived 42 per cent on Wednesday after delays getting enough electricity to its West Footscray data centre prompted the company to slash its financial forecasts.
At the centre of the problem are concrete poles standing up to 22 metres tall in West Footscray and Yarraville.
They were planned to carry the high-voltage electricity needed by NextDC’s M3 data centre but drew swift backlash from residents.
Electricity provider Jemena stopped connection work in late September and began consultation with locals and other stakeholders.
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