NXT +17.4%: jumped the most since 2010 on artificial intelligence (AI) FY27 workload momentum. At one stage, the stock was up +24%.
- Revenue of $427.2mn, +5.7% YoY, was slightly below $430.8mn expected.
- Underlying EBITDA $216.7mn, +6.1% YoY, estimates were $214.7mn.
- Net loss of $60.5mn, +37% YoY.
- Capital expenditure $1.7bn, +69% YoY.
NXT forecasts it will need to spend between $1.8 billion and $2 billion this year with record demand for its data capacity thanks to the AI boom. The market’s bullish reaction was all about the future years’ AI workload development, which came in well ahead of expectations. As we saw with Nvidia’s result, the AI story is real and gathering momentum.
MM is bullish towards NXT
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