NextDC stock faces project pause after Melbourne power setback
Published on 11/10/2026 at 20:43 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSWhat changed for NextDC investors
- NEXTDC will pause work on projects without customer contracts after the M3 Melbourne setback.
- Goodman Group and Digital Realty now hold 9.9 percent and say they do not currently plan a takeover offer.
NextDC said it will stop work on projects without customer contracts after delays at its M3 data center expansion in Melbourne. Reuters reported the decision on Monday, November 9, citing comments from Chief Executive Craig Scroggie at the UBS Australasia conference.
The move follows a setback involving electricity network works needed for M3. Community opposition and power delays had already forced NextDC to cut its earnings forecasts last month. Scroggie said projects without a customer commitment were no longer a priority while the company works to rebuild community support for M3.
Development plans come under review
The pause adds a new constraint to a large expansion pipeline. Reuters said NextDC had 11 centers in development or planning, while the company reported 740.1 megawatts of contracted utilization for fiscal 2026 in its Investor Centre.
Goodman Group and Digital Realty bought a 9.9 percent stake after the sell-off. The two investors said they currently have no plans to launch a takeover offer, while reserving the right to do so. They also said they look forward to potential collaboration with NextDC's board and management.
Price remains in focus
NextDC stock traded at 6.38 euros on Lang & Schwarz at 20:36 CET on Tuesday, November 10, 2026.
NextDC stock at a glance
- Company: NEXTDC Limited
- ISIN: AU000000NXT8
- ASX ticker: NXT
- Primary exchange: ASX
- Lang & Schwarz quote: 6.38 euros at 20:36 CET on November 10, 2026
Australia's S&P/ASX 200 provides the broader market backdrop for the listed data center operator.
