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NextDC cash crunch threatens $2b Melbourne technology hub

The Australian Financial Review (AFR) •
October 28, 2026 • 09:00 AM
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Chief executive Craig Scroggie’s grand plan to create an artificial intelligence and high-tech precinct and create thousands of jobs has hit a wall.

NextDC cash crunch threatens $2b Melbourne technology hub

NextDC chief executive Craig Scroggie’s grand plan to create thousands of jobs at a digital technology hub in Melbourne is evaporating as his company’s financial woes force it to put new data centres on hold.

Former Victorian premier Jacinta Allan in June 2025 had said a $2 billion investment by NextDC in a data centre in Fishermans Bend, near the Port of Melbourne, would cement Victoria’s reputation as “the centre for innovation”.

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