Australian AI data centre operator NextDC shares shed 44% on revenue delay

By Scott Murdoch and Rajasik Mukherjee SYDNEY Oct 21 (Reuters) Australian data centre operator NextDC shed nearly half of its market capitalisation on Wednesday after sharply cutting revenue forecasts for the year ahead and putting future developments on hold, extending the burst ​of negative sentiment towards global AI stocks. The company said delays to electricity network ‌upgrades at one of its major Melbourne assets would mean about A$140 million ($98 million) worth of contracted customer revenue this financial year would be deferred. It would shelve all new development projects and land acquisitions for the foreseeable future and would evaluate capital recycling opportunities, including potential sales of selected development sites. The news sent NextDC shares ‌down ​44% and wiped about A$3.1 billion from its market value ⁠in early trade. The stock, ⁠now at its lowest since January 18, was also the biggest loser on the broader ASX200 benchmark index. Investments for data centre