Why I’d still watch these 2 ASX data centre and tech names after the sell-off

NEXTDC Limited (ASX: NXT), on 21 October 2026, announced delays in power supply work by Jemena, affecting its M3 Melbourne data centre. Due to community opposition and pending local council approval, Jemena stopped parts of the work. The next increase in power supply is now expected in FY28 instead of earlier, delaying the delivery and billing of customer capacity. Approval for the expansion of M3 Stages 6 and 7 is also expected in 2027. Construction of the existing data centre buildings is continuing.

Due to these delays, NEXTDC reduced its FY27 revenue guidance to A$475 million–A$500 million from A$615 million–A$640 million. Its expected underlying EBITDA was reduced to A$245 million–A$265 million from A$385 million–A$410 million. NXT also cut its capital expenditure guidance to A$4.5 billion–A$5 billion. It reported available liquidity of A$8.675 billion as of 30 September 2026 and confirmed that it remained within its financial covenant limits. The company is focusing spending on projects backed by customer contracts.

Both NEXTDC and Infratil remain worth watching as data centre demand grows, despite recent setbacks, market volatility and changes in their financial outlook.

On 5 November 2026, NEXTDC reported that Goodman Group and Digital Realty, through their jointly owned company Ackland Investments, had attempted to buy up to 9.9% of NEXTDC shares at A$9.50 per share through an institutional share sale on 4 November. The final outcome is unknown. Both investors said they had no current plans to make a takeover bid but reserved the right to do so later. NEXTDC said shareholders do not need to take any action.

Infratil Limited (ASX: IFT), on 16 October 2026, shared its October investor newsletter, explaining its increased focus on data centres, renewable energy and electricity infrastructure due to rising global demand from artificial intelligence (AI). Around three-quarters of its NZ$22 billion portfolio is linked to energy and data centres. The company highlighted growth opportunities through its existing businesses, particularly CDC and Longroad Energy, while remaining selective about investments in emerging sectors. It also had around NZ$1.4 billion in available liquidity in September 2026.

CDC increased its FY27 EBITDAF guidance to A$710 million–A$750 million from A$680 million–A$720 million after signing an additional 70MW of customer contracts and achieving operating cost savings. Its total contracted capacity reached 1.1GW as of 30 September 2026. Its development pipeline grew by 240MW during the quarter, with more than A$1 billion in land purchases expected to settle across FY27 and FY28. CDC is also exploring a 250MW data centre project in Taranaki with Contact Energy.

Longroad Energy (Infratil's US-based renewable energy business) expects to increase its operating and under-construction capacity from around 7GW to more than 14GW by the end of 2029, with annual EBITDAF expected to reach around US$1.2 billion. Its development pipeline stands at 36GW, including a newly acquired 2.8GW solar and battery storage project in Nevada. Separately, Gurīn Energy signed an MoU with NAVER for its 216MW Jindo solar project. On 16 October 2026, Infratil also confirmed that it would release its interim results on 18 November 2026.

(Source: Company Report)