Shares in this data centre company are down 40% as investors lose faith in the AI story

By Andrew Cullen, Guest Research Fellow, School of Computing and Information Systems, The University of Melbourne

For two decades, data centres were relatively safe, lucrative real estate investments. They attracted investors because they served as digital infrastructure — the essential plumbing that keeps the internet running.

The growth of artificial intelligence (AI) and its increased demands on computing power has meant data centre builders are in a race to build out sufficient supply.

But in the past two weeks, investors have started to have genuine concerns about the long-term viability of these businesses. On Wednesday, shares in NextDC, one of Australia’s largest data centre…

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