NEXTDC raises A$795 million for AI data centre expansion
Australian operator NEXTDC announced a capital raise of A$795.63 million through convertible notes to fund its AI infrastructure growth.
Nextday Capital Limited, known as NEXTDC, confirmed it raised A$795.63 million on September 9. The Queensland-based firm used funds from a convertible note offering worth A$1.1 billion ($795.63 million) to support its capital expenditure plans. Investors purchased these securities at a conversion price set between 32.5% and 37.5% above the reference share price. Nextday Capital intends to use proceeds for expanding its local data centre network, covering capped call transaction costs, and other corporate expenses. The company plans to spend between A$5.25 billion and A$5.75 billion on capital projects during fiscal year 2027. This represents a roughly 55% to 70% increase from the previous year's spending. Nextday Capital stated the funds would address surging demand driven by artificial intelligence applications. The company also intends to enter capped call transactions with a cap price 70% above the reference share price to mitigate potential stock dilution.
