Australia has become the world’s third-largest artificial intelligence investment destination behind the U.S. and China, a result that’s set to spur productivity in an economy currently struggling with a low potential growth rate and high inflation, Commonwealth Bank of Australia says.
CBA’s updated estimates suggest that Australia’s data center pipeline is closer to 6 gigawatt, or 150 billion Australian dollars ($105 billion), implying installed capacity could more than triple over the period to 2030, according to a research note released Monday by economists led by Luke Yeaman.
Shares in Australian data centers jumped following the report, with Goodman Group rising as much as 6.9%, the most since Dec. 23. NEXTDC, which partnered with OpenAI last December to build a AU$7 billion large-scale computing cluster in Sydney, climbed 7.2% as did Megaport. Macquarie Technology Group advanced 7.1% while DigiCo Infrastructure was up 3.1%. The 200-share benchmark ASX index is up 1.8%.
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