The data-centre firm’s insatiable appetite for capital meant brokers loved it. Now it’s pitched as a value trade, but only if it can survive.
The financial services giant will wind up the retail version of its property lending fund after placing a block on redemptions across the $2.3 billion strategy.
Craig Scroggie’s NextDC has become the biggest victim of rising community backlash against data centres, with almost $3 billion of market value destroyed.
In the property financing market, the pendulum has well and truly swung in favour of lenders as private credit funds are in retreat. So who is going to step up?
The traders, issuers and investors who gathered at CBA’s annual global markets event on Monday all had the same question: how high can long-term bond rates go?
When prices stop responding to bad news, it’s a sign the bottom is near. Let’s hope that’s the case for bonds and all other assets trashed by rising yields.
The Maas founder has watched in shock as the market revolted against his big Firmus bet. A week of relentless selling has forced him to break his silence.
With stocks down across the sector, even long-time Wall Street bull Dan Ives described the sell-off as a “gut check” for the artificial intelligence boom.
AirTrunk pulled plans for its Singapore-listed trust with five assets at the same time as yields spiked on debts owed by Nasdaq-listed CoreWeave.
Azora Capital, a US hedge fund that specialises in trading banks, has noticed a counterintuitive trend that is instructive for Australia’s largest lenders.
The fund manager pointed to Firmus’ big AI customer and “strong pipeline” of data centre sites that could generate $US10 billion of earnings in the medium term.
Bristlemoon Capital is betting shares in the country’s biggest real estate listings company will plunge nearly 40 per cent from here.
More money is leaking out of the industry super fund giants. Is this a sign the pension power balance is permanently changing?
The reality is Australian superannuants are already extremely long on the artificial intelligence trade. Does the failure of this float change anything?
The float of the decade went from a done deal to dead within two days. Now the company’s heavyweight investors and advisers are working out who is to blame.
After a dramatic scramble to secure backers for the second-biggest ASX listing ever, the artificial intelligence player is considering cancelling its float.
Earlier this week, the neocloud hopeful was convinced its $44 billion float was a done deal. Then, one after the other, prospective investors started baulking.
In an ironic twist, the one venture that escaped the ignominy of a KPMG-induced mark-down puts it under the threat of a future haircut to its valuation.
MST Marquee analyst Lafitani Sotiriou argues that “the prevailing myth that scale and internalisation is helping industry funds is not proven”.
The neocloud hopeful had been hurtling toward a blockbuster Australian sharemarket float that was expected to value the company at more than $43 billion.
