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$3b gone in 40 minutes: Inside the NextDC bloodbath

The Australian Financial Review (AFR) •
October 21, 2026 • 03:07 AM
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NextDC’s savage share price sell-off is more evidence the country’s much-hyped AI infrastructure sector is bleeding. Two more big tests loom in the coming months.

$3b gone in 40 minutes: Inside the NextDC bloodbath

Australia’s data centre dream just collided with reality – in the form of a series of 22-metre-high power poles.

It is impossible, of course, to separate Wednesday’s extraordinary 42 per cent fall in the share price of local data centre operator NextDC, which wiped $2.9 billion off its market capitalisation by day’s end, from the broader blow-up in the sector.

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