Australia's Megaport wins $687 million AI infrastructure deals, raises 2027 earnings forecast

By Reuters News

Sept 29 (Reuters) - Australian IT firm Megaport MP1.AX said on Tuesday that it signed three new AI Infrastructure contracts with a combined value of A$978.6 million ($686.78 million) and upgraded its earnings forecast for 2027.

Here are some more details:

  • The three contracts, all with unnamed customers, include GPU and CPU compute, network and storage for AI applications and inference workloads.

  • The contracts are expected to contribute about A$232.4 million in annual recurring revenue.

  • The deals follow Megaport securing four similar contracts totalling A$458.9 million in early June and marks another step in its push into AI infrastructure.

  • The company now sees its full-year group revenue forecast between A$720 million and A$810 million, higher than its previous expectations of A$620 million to A$730 million.

  • EBITDA margin for the year is now expected to come in between 42% and 44%, compared with a prior forecast of 38% to 40%.

($1 = 1.4249 Australian dollars)

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