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Megaport shares jump 5.5% as AI infrastructure bet lifts ASX tech stock ahead of october quarterly update. The ASX-listed network services company has gained 36% in a year, but its shift into AI infrastructure faces questions over profitability, capital spending and customer concentration. Published 10/12/26 AT 12:24 PM AEDT SYDNEY - Shares of Megaport Ltd. rose sharply on Monday, outpacing the broader Australian market as investors returned to the network services company whose push into artificial intelligence infrastructure has made it one of the most closely watched technology stocks on the ASX. Megaport shares climbed 1.03 Australian dollars, or 5.49%, to A$19.81 during Monday's session. The stock traded between A$19.16 and A$19.89, with about 361,000 shares changing hands. The gain lifted the company's market value to about A$4.7 billion. It was not immediately clear whether the company had released new information to the market. Monday's move came as the benchmark S&P/ASX 200 index rose about 0.7% by midday, helped by a rebound in mining stocks and a rally in technology shares. Megaport shares are up about 36% over the past year. From connectivity to AI Founded in Brisbane and listed on the ASX in December 2015, Megaport built its business providing network-as-a-service technology that helps companies connect to cloud providers, data centers and other digital services on demand. Over the past year, however, the company's investment story has shifted toward artificial intelligence. Megaport has expanded into providing computing power, including access to graphics processing units used to run AI applications, positioning itself as an asset-light way for investors to gain exposure to demand for AI infrastructure. That strategy produced a string of major contract announcements in the first half of 2026. In April, Megaport said Latitude.sh had secured a 36-month compute and storage contract worth about A$35.4 million. In May, it announced three major contracts for GPU, CPU, network and storage services with two U.S.-based technology customers running AI applications and inference workloads. In June, the company announced four new major contracts with a total contract value of about A$458.9 million and annual recurring revenue of roughly A$199 million, alongside a capital raising. It also outlined plans for a globally distributed AI inference cloud that would include an on-demand pool of GPUs. The announcements fueled a dramatic rally. At one point, the shares surged about 70% in a single month. Strong results, but higher losses Megaport reported its full-year results for fiscal 2026 in August. Revenue rose 37% to about A$312 million, while earnings before interest, taxes, depreciation and amortization reached about A$77 million, a margin of about 25% and ahead of guidance. The shares initially jumped to a record high of A$21.96 on the morning of the results. But enthusiasm faded as investors focused on the company's widening losses. Megaport's statutory net loss grew to A$39 million in fiscal 2026 from A$300,000 a year earlier, reflecting heavy investment in its expansion. The stock subsequently fell about 21% over five trading days, a reminder of how volatile shares tied to the AI investment theme can be. Analysts remain upbeat Despite the volatility, analysts have remained broadly positive. Most brokers covering the stock rate it a buy, with some price targets as high as A$30.55, well above Monday's trading levels. Supporters argue that Megaport offers exposure to AI-driven demand with shorter implementation times and lower capital requirements than traditional data center operators. Critics caution that the company still needs to deploy capital effectively, deliver hardware on time, manage its reliance on a small number of large customers and prove that new contracts translate into strong returns. What's next Megaport's next earnings report is expected Oct. 29, according to Investing.com. Investors will be watching for progress on its AI contracts, growth in annual recurring revenue and any updates on spending plans. For now, Monday's rally suggests investors remain willing to back Megaport's transformation from a cloud connectivity provider into an AI infrastructure player, even as questions about profitability persist.

Megaport expands global automated infrastructure platform into Portugal. Business Wire Published Oct 12, 2026 Megaport's expansion to Portugal unlocks access to compute, network, and storage services for the local and global markets. BRISBANE, Australia - Megaport Limited (ASX: MP1) ("Megaport"), a leading global automated infrastructure platform, today announced the launch of its services in Portugal, expanding its European footprint and enabling enterprises and service providers in the region to connect instantly to the world's leading cloud, network, and data center providers. Story continues below This advertisement has not loaded yet, but your article continues below. With new on-ramps in Lisbon, customers in Portugal can now access Megaport's automated infrastructure platform as well as more than 1,200 enabled data centers worldwide. This launch gives enterprises, MSPs, and carriers private, high-performance compute, network, and storage, as well as on-demand regional interconnection with scalable bandwidth. Top Stories Interested in more newsletters? Browse here. With Portugal's data center market projected to reach US$3.09 billion by 2030 as well as Lisbon's proximity to major submarine cable landings, the strengthening global connectivity hub is a natural next step for Megaport. "Portugal's digital economy is rapidly growing, and infrastructure is at the heart of that transformation," said Emmanuel Sevray, VP Europe, Middle East, and Africa at Megaport. "By bringing Megaport's world-class platform to this thriving market, we're empowering businesses to accelerate their business advancement, improve network performance, and seamlessly connect to global partners and providers." Portugal's growing role as a digital hub for Southern Europe makes it a natural addition to Megaport's expanding European presence, which already includes key markets like Spain, France, Germany, and the United Kingdom. "This launch reinforces our commitment to supporting customers wherever they operate," added Sevray. "Portugal is an exciting opportunity to bring world-class automated infrastructure to a thriving technology ecosystem." About Megaport Deploying infrastructure should be fast and simple. By taking a software-defined approach, Megaport provides private compute, network, and storage - globally, securely, and on demand. Build and scale your infrastructure in just a few clicks with a global AI inference platform. Trusted by the world's leading companies, Megaport partners with service providers, data centers, and systems integrators across 1,200+ enabled locations worldwide. The Megaport Network is ISO/IEC 27001 certified. Start building at megaport.com. View source version on businesswire.com: Media Enquiries

Int'l bytes: Applied Digital, ciena, Telstra, Epsilon, Megaport. Three expansion projects and an upgrade from around the world: Applied Digital is expanding its reach beyond the US with a new project over in northern Europe. They have entered into an agreement for 1GW of potential power capacity in Finland starting in 2028. The plan is to build an AI Factory Campus in the country, and with power in place they can now move forward other aspects of the project like, for example, the campus itself. Ciena has picked up a key contract win over in the UK. Openreach will be deploying their Waveserver and WL6 1.6Tbps coherent technology into the company's infrastructure. They will be deploying 400G and 800G client traffic over dedicated 1.6Tbps waves for connectivity to and between cable landing stations, data centers, and cloud destinations. Telstra is investing in its terrestrial connectivity to Western Australia. They have launched the new Perth-Sydney route of their Aura Network. It's the longest route in Australia, and is part of an effort to better connect the country's southwest back to the more populous southeast. Perth has become a key regional infrastructure hub for which Telstra wants to have plenty of diverse connectivity options. And Epsilon has tapped Megaport to help expand its reach in North America. Epsilon customers will be able to leverage Megaport's compute, network, and storage across the US and Canada. The two have collaborated to interconnect their respective software-defined network platforms to allow high-performance, on-demand connectivity. If you haven't already, please take our Reader Survey! Just 3 questions to help us better understand who is reading Telecom Ramblings so we can serve you better!