Megaport raises A$827.3 million to fund AI inference cloud amid contract wins
The ASX-listed firm has secured four US-based AI contracts worth A$458.9 million and revised its 2026 revenue outlook higher, while launching a discounted capital raise to build a globally distributed inference network.
Australian infrastructure provider Megaport has secured four new artificial intelligence infrastructure contracts with US-based technology providers, valued at A$458.9 million. To support the development of a globally distributed AI inference cloud, the company announced an entitlement offer to raise A$827.3 million ($594 million) by issuing shares at A$14.30 each. This pricing represents a 13.9 per cent discount to the stock’s last close on June 1.
The contracts, which are expected to commence in the first half of 2027, will require approximately A$369.5 million in capital expenditure. The funds will be directed primarily toward high-performance Nvidia GPUs, as well as network and storage infrastructure. Megaport stated that the new inference cloud will be anchored by an on-demand GPU pool backed by A$350 million in investment, designed to serve enterprise customers through both contracted and consumption-based pricing models.
Hebe Chen, a market analyst at Vantage Markets, noted that Megaport is positioning itself as a “picks-and-shovels” player in the current AI infrastructure boom. Chen observed that the GPU pool could push the firm further up the value chain, moving beyond its traditional role of connecting data centres and cloud platforms to actively helping enterprises access the computing power required to deploy AI at scale.
This strategic shift capitalises on a broader industry transition in enterprise AI adoption, where demand is moving from model training to latency-sensitive inference workloads. Megaport utilises a network of more than 1,100 data centres across 31 countries and employs both Nvidia and AMD chips. The company argues this infrastructure allows it to deliver AI compute closer to end users, thereby addressing critical bottlenecks related to power, connectivity, and access to high-performance hardware.
In conjunction with the capital raise and contract announcements, Megaport tightened its 2026 revenue forecast to A$307 million–A$315 million, up from the previous expectation of A$302 million–A$317 million. The revision reflects strong momentum in the firm’s core network business. Shares of the company were placed on trading halt until June 5 following the announcement.
