NEXTDC upgrades Sydney’s S3 data center’s interior

NEXTDC has announced a $618m fundraising effort to support the construction of two new data centres, KL1 in Kuala Lumpur and AK1 in Auckland, and an accelerated fit-out of its S3 facility in Artarmon, Sydney. The company aims to spend $250m on a 65 MW KL1 facility and $140m on a 10 MW AK1 data centre. The Auckland site’s maximum capacity will be 15 MW. Construction will begin in 2024 and complete in 2026. The company will also invest $150m in accelerating the fit-out of its S3 site to meet the 35.9 MW increase in contracted utilisation. The share offer is a one-for-eight entitlement offer priced at $10.80 per new share.