NXT +8.09%: shares in the data centre operator briefly surged to 12-month highs today, closing at its best level in 6 months following a strong utilization update from the company this morning. Contracted utilization is up 43% this calendar year, adding 35.9MW to 120MW on the back of strong contract wins. The new S3 centre has been the main contributor with 46% of its planned capacity now contracted. On the back of strong customer support, NEXTDC has secured additional land for their planned S5 site which has a target capacity of 60MW. Revenue for their latest contract wins will be recognized from late FY24 and beyond.
MM is now neutral NXT
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