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

Sept 29 : Australian IT firm Megaport 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 per cent and 44 per cent, compared with a prior forecast of 38 per cent to 40 per cent.

($1 = 1.4249 Australian dollars)