Ann: Retail Offer Oversubscribed, page-19

AI and the data centre thematic seems to back in full swing at the moment off the back of Nvidia’s recent eye watering results. I’ve noticed globally and locally there’s been a lot of positive price movement in anything related to AI and the data centre theme.

I’m curious to see how Infratil benefits when it next reports considering the weighting of just under 50% that the CDC business now has as a proportion of Infratil’s net assets. I’m also keen to hear how the Console Connect acquisition is going which was expected to be completed in Q3 24 pending approvals. Both businesses play nicely into the themes in one way or another.

It’s positive to see similar counterparts in the data centre market on the ASX which have had decent YTD runs such as Goodman Group with its recent push into the data centre space, and the more pure play Next DC (with some numbers I found earlier noted below). I’d like to hope it bodes well for CDC and therefore Infratil’s valuations moving forward, and although I’d like more details on the Console Connect acquisition to have a more informed opinion, the last time I posted I likened it to have a similar business model to Megaport on the ASX which has also experienced both decent business and share price performance as of recent.

YTD share price returns
Next DC - NXT - 22.94%
Megaport - MP1 - 54.01%
Goodman Group - GMG - 13.28%