Infratil shares rally after CDC secures 555 megawatts deal with US customer

The news: Infratil led gains on the ASX 200 after announcing that its 49.8% owned data centre operator CDC secured a 30-year contract with a US-based investor to provide 555 megawatts, taking its total contracted capacity to over one gigawatt.

Shares were up 12.10% to $11.77 at 1:23pm AEST.

The context: Following the contract, CDC now expects EBITDA to exceed $1 billion in FY28. Its total contracted capacity is forecast to deliver an annualised EBITDA of around $2 billion once fully deployed.

CDC’s FY27 EBITDA guidance remains unchanged at between $680 million and $720 million, as the newly contracted capacity will only become operational over FY28 and FY29.

What they said: “This is another massive tick of approval for Australia as the global hub for intelligence generation. We have been working hard for nearly twenty years preparing for this moment, and this is only the beginning of an era of prosperity and growth for Australia in this space,” CDC CEO Greg Boorer said.