Sept 29 (Reuters) – Australian IT firm Megaport said on Tuesday that it signed three new AI Infrastructure contracts worth a combined A$978.6 million ($686.78 million) and upgraded its earnings forecast for 2027.
Here are some more details:
• The three contracts, with undisclosed customers, cover GPU and CPU compute, networking and storage for AI applications and inference workloads.
• The agreements are expected to generate about A$232.4 million in annual recurring revenue.
• The deals follow four similar AI infrastructure contracts worth A$458.9 million secured in early June, further advancing the company’s expansion into AI infrastructure.
• Megaport now sees its full-year group revenue forecast between A$720 million and A$810 million, higher than its previous estimate of A$620 million to A$730 million.
• The company raised its EBITDA margin forecast to 42%-44% from 38%-40%.
• Shares rose as much as 20.5% to their highest level since mid-August and were among the top gainers in the benchmark, which was down 0.1%.
($1 = 1.4249 Australian dollars)
(Reporting by Jasmeen Ara Shaikh in Bengaluru; Editing by Perla Velasco and Sherry Jacob-Phillips)
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