Shares of Australian data center operator NextDC plunged 40% after the company slashed its earnings forecast. The company said the downgrade was driven by power supply delays at its Melbourne facility.
The delays stem from local community and stakeholder opposition, which has held up the connection of power to the site. NextDC pointed to these factors as the main reason for the weaker outlook.
The steep selloff highlights how project delays can hit data center operators. The report did not include further details on the revised figures or timeline.