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Australian AI data centre operator NextDC shares shed 44% on revenue delay
SYDNEY: Australian data centre operator NextDC shed nearly half of its market capitalisation on Wednesday after sharply cutting revenue forecasts for the year ahead and putting future developments on hold, extending the burst of negative sentiment towards global AI stocks. The company said delays to electricity network upgrades at one of its major Melbourne assets would mean about A$140 million ($98 million) worth of contracted customer revenue this financial year would be deferred. It would shelve all new development projects and land acquisitions for the foreseeable future and would evalu...
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