Australian data center operator NextDC saw its shares fall 41.7% after sharply cutting its annual revenue and earnings forecasts. The company now expects revenue of 475 million to 500 million Australian dollars, down from 615 million to 640 million, and EBITDA of 245 million to 265 million Australian dollars. Jemena suspended part of the grid improvement work serving NextDC’s M3 data center in Melbourne because of community opposition and the lack of local council consent, and does not expect to resume before February 2027. NextDC also cut its capital expenditure by 750 million Australian dollars and placed land acquisitions and new development projects on hold. The decline is part of a broader selloff affecting data center and artificial intelligence infrastructure companies, which has prompted Firmus to cancel its Australian IPO and AirTrunk to postpone its Singapore listing.
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