Australian networking company Megaport has announced four new AI infrastructure contracts valued at A$458.9 million. The company will raise A$827.3 million ($594 million) to build a globally distributed AI inference cloud.
The deals involve U.S.-based technology providers and are expected to begin in the first half of 2027. The project requires nearly A$369.5 million in capital expenditure, primarily for high-performance Nvidia GPUs, network, and storage infrastructure.
"Megaport is positioning itself as a picks-and-shovels player in the AI gold rush," said Hebe Chen, market analyst at Vantage Markets.
Megaport's AI inference cloud will feature an on-demand GPU pool backed by A$350 million in investment, offering both contracted and consumption-based pricing to enterprise customers. The company operates a network of more than 1,100 data centers across 31 countries.
Under the entitlement offer, Megaport will issue shares at A$14.30 each, a 13.9% discount to the last close. The company also tightened its 2026 revenue forecast to A$307 million-A$315 million, reflecting strong momentum in its core network business.