NextDC shares surged over 42% Thursday after Goodman Group and Digital Realty announced plans to acquire stakes of up to 9.9% each in the Australian data center operator.
The two companies conducted an aftermarket bookbuild Wednesday, seeking shares at A$9.50 apiece, according to a NextDC regulatory filing. NextDC's board described the move as "opportunistic," noting it occurred two weeks after the company disclosed a power supply delay at its M3 Melbourne data center and revised fiscal 2027 guidance downward.
Goodman and Digital Realty told investors they have no current intention of making a takeover bid but reserved the right to do so. NextDC said it was not aware of the outcome of the share purchase.
NextDC's gain ran counter to weakness in U.S. data center stocks. CoreWeave shares fell about 9% and Iren dropped roughly 11.2% on Wednesday. The selloff followed Democratic election victories in U.S. midterm elections, which raised expectations of tighter scrutiny and potential restrictions on data center development that could slow AI infrastructure buildout.