Infratil shares rally as CDC secures 100MW of new contracted capacity
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The news: Infrastructure investor Infratil has confirmed that its part-owned data centre developer CDC has secured 100 megawatts of new contracted capacity.
The numbers: Infratil shares jumped into positive territory following the announcement. Shares were up 0.9% to $11.01 at 2:40pm AEST.
The context: The company — which owns a 49.75% interest in CDC after boosting its stake in February — said the new contracts provide "high visibility" that CDC remains on track to double FY25 earnings by FY27. Infratil also said the deal underscores "strong ongoing demand in the Australasian data centre market".
CDC, founded by CEO Greg Boorer in 2007, has grown into a leading player in Australia and New Zealand, benefiting from surging demand for AI and cloud computing.
What they said: "With other contracts signed since May, approximately 95% of forecast lease revenues are now under contract, and we remain confident in contracting the remaining capacity," said Infratil CEO Jason Boyes.
"These contracts demonstrate CDC's ability to attract significant capacity demand due to its technological advantage and unrivalled track record of delivering future-proof campuses for the AI world."
The source: ASX
