ASX:MGH

Megaport, Nextdc, Maas-Backed Firmus Working With Nvidia on Up to 2-Gigawatt AI Infrastructure Buildout

Megaport (ASX:MP1), Nextdc (ASX:NXT), and Maas Group-backed (ASX:MGH) Firmus are among the artificial intelligence-related firms collaborating with Nvidia to expand land, power, and shell capacity designed to host multiple generations of Nvidia DSX compute infrastructure, according to a Thursday statement by Nvidia.The partners are targeting a combined buildout of up to two gigawatts by 2027, meeting surging demand from AI labs and AI-native startups, the statement added.Firmus is expanding its Project Southgate initiative, developing Nvidia-powered AI factories designed to support hyperscale and AI-native demand across Australia and the Asia-Pacific, Nvidia said.Meanwhile, Megaport is expanding access to Nvidia accelerated computing through its unit Latitude.sh, through its global software-defined network to support the inference needs of leading AI enterprises, reducing latency and improving responsiveness, per the statement.Nextdc has developed AI-ready data center infrastructure designed to support high-density AI factories, providing the power, cooling, connectivity and physical infrastructure required to deploy increasingly compute-intensive AI systems, Nvidia added.Megaport's shares rose almost 5% in recent Thursday trade, Maas Group fell nearly 2%, and Nextdc was down about 4%.

MAAS Group Holdings Says UBS Group Ceases to be Substantial Shareholder

MAAS Group Holdings (ASX:MGH) received notice that UBS Group and its affiliates are no longer substantial holders of the company from Monday, according to an Australian bourse filing on Wednesday after market hours.UBS Group and its affiliates became a substantial holder of the company on Aug. 7, with a total voting power of 5.08%, an earlier filing showed.

Market Chatter: Firmus Technologies Mulls Australian Bourse Listing, The Australian Financial Review Says

Firmus Technologies plans to conduct investor meetings in the week starting Sept. 14 for a potential initial public offering on the Australian bourse, The Australian Financial Review reported on Tuesday, citing sources.The technology firm is following Anthropic's planned Nasdaq listing, expected in October. Firmus is said to be working on a pathfinder prospectus. It is backed by MAAS Group Holdings (ASX:MGH).Firmus also secured a multi-year contract to sell compute capacity to OpenAI from two of its data centers in Malaysia.The firm did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

ASX Biggest Gainers

Here are the ASX-listed companies with the biggest gains on Tuesday.Sunrise Energy Metals (ASX:SRL): +14%, AU$18.31Predictive Discovery (ASX:PDI): +7%, AU$4.67Core Exploration (ASX:CXO): +5%, AU$0.35Arafura Rare Earths (ASX:ARU): +5%, AU$0.21Downer EDI (ASX:DOW): +5%, AU$6.76EQ Resources (ASX:EQR): +4%, AU$0.38Brazilian Rare Earths (ASX:BRE): +4%, AU$3.82Centuria Capital (ASX:CNI): +4%, AU$1.33Lindian Resources (ASX:LIN): +3%, AU$0.69MAAS Group (ASX:MGH): +3%, AU$5.83

Firmus Partners With OpenAI

Firmus entered into a multi-year partnership with OpenAI, under which the latter will contract dedicated artificial intelligence compute capacity from two Firmus AI Factory sites in Malaysia, the AI infrastructure company said in a statement on Tuesday.OpenAI will support Firmus as an anchor customer, facilitating the expansion of AI Factory capacity within the company's platform.MAAS Group (ASX:MGH) owns 3.2% of Firmus.MAAS Group shares rose nearly 6% in morning trade Tuesday.

ASX Biggest Gainers

Here are the ASX-listed companies with the biggest gains on Friday.BCI Minerals (ASX:BCI): +7%, AU$0.58HMC Capital (ASX:HMC): +7%, AU$3.32Orabanda Mining (ASX:OBM): +6%, AU$1.60MAAS Group (ASX:MGH): +5%, AU$5.41DroneShield (ASX:DRO): +5%, AU$1.75Predictive Discovery (ASX:PDI): +5%, AU$4.60Regis Healthcare (ASX:REG): +4%, AU$4.49MA Financial Group (ASX:MAF): +4%, AU$5.35Catapult Group (ASX:CAT): +4%, AU$3.23Sunrise Energy Metals (ASX:SRL): +4%, AU$14.82

MAAS-Backed Firmus to Invest Around $300 Million in Trans-Pacific Submarine Cable System

Firmus is set to become a cornerstone customer on SUBCO's APX East submarine cable system once it's built, making an around $300 million investment and securing up to 150 terabits per second of dedicated capacity over 25 years on APX East, according to a Thursday statement.APX East is SUBCO's Trans-Pacific cable system, designed to provide an independent, direct route between Australia and the US.An August Australian bourse filing showed that Maas Group (ASX:MGH) agreed to acquire an additional AU$300 million of Firmus shares at AU$230 apeice.

MAAS Group Holdings Shares Slide After Reports of Nvidia Pausing AI Revenue-Sharing Deals

MAAS Group Holdings (ASX:MGH) shares fell 1% in recent Friday trade following a report that US-listed Nvidia is suspending some deals under which it offers credit support to artificial-intelligence cloud providers in return for a revenue share.The Wall Street Journal reported Thursday, citing people familiar with the matter, that Nvidia paused some of those financing deals after facing antitrust scrutiny and questions over the extent of its say in how customers conduct business.The decision may have an impact on Firmus Technologies, an AI infrastructure operator in which MAAS Group recently agreed to acquire an additional AU$300 million of shares at AU$230 each, The Australian reported Friday.A Firmus spokesperson told The Australian that the company's contracts with Nvidia remain in place.

MAAS Group Holdings Fiscal 2026 Underlying EPS, Revenue Up

MAAS Group Holdings (ASX:MGH) logged AU$0.342 in underlying basic EPS for fiscal 2026, compared with AU$0.227 a year ago, a Thursday filing showed.For the 12 months ended June 30, revenue from ordinary activities was AU$1.31 billion versus AU$1.04 billion previously, the Australia-listed industrial, construction, and property group added.The board did not declare a final dividend for fiscal 2026 following an interim dividend of AU$0.035. Instead, the company will seek shareholder approval at its annual general meeting to increase its share buyback capacity to 20% of issued capital under a new capital management framework.MAAS Group said it expects "strong" revenue and profit growth from continuing operations in fiscal 2027.

CLSA Upgrades MAAS Group Holdings to Accumulate From Hold; Price Target is AU$6.20

MAAS Group's Additional Equity Investment in Firmus is 'Big Gambit' That Adds Risk, Jefferies Says

MAAS Group Holdings' (ASX:MGH) deal to acquire an additional AU$300 million of Firmus shares and preference shares at AU$230 each adds risk for the company, Jefferies said in a Tuesday note.The equity research firm estimates that post-deal execution, MAAS Group will have a roughly AU$500 million stake in Firmus, making it the company's biggest single asset.The deal is a "big gambit" as Jefferies' Neocloud basket has seen a correction of negative 26% over the past two months, highlighting the risk in this emerging space, the investment firm said.Meanwhile, MAAS Group's new AU$855 million contract with Firmus validates Jefferies' recent upgrade of the company, it added. With the new order, work in hand for MAAS Group's electrical infrastructure subsidiary now exceeds AU$1.2 billion.Jefferies said its July 7 upgrade of MAAS Group assumed the company would earn AU$1.2 billion from Firmus through fiscal 2031 and beyond, but that now seems conservative given the new contract win.The firm maintained a buy rating on MAAS Group with a price target of AU$6.40.

ASX Biggest Gainers

Here are the ASX-listed companies with the biggest gains on Tuesday.DroneShield (ASX:DRO): +12%, AU$2.03MAAS Group Holdings (ASX:MGH): +11%, AU$5.52Almonty Industries CDI 1:1 (ASX:AII): +10%, AU$17.71EQ Resources (ASX:EQR): +10%, AU$0.29Phylogica (ASX:PYC): +9%, AU$1.99Life360 CDI 3:1 (ASX:360): +9%, AU$27.87COSOL Infrastructure (ASX:CQE): +8%, AU$2.76Electro Optic Systems (ASX:EOS): +8%, AU$7.51Benz Mining (ASX:BNZ): +7%, AU$4.15Megaport (ASX:MP1): +6%, AU$19.10

MAAS Group Secures AU$855 Million Contract; Agrees to Invest AU$300 Million in Firmus Grid; Raises Fiscal 2026 Earnings Outlook

MAAS Group Holdings (ASX:MGH) secured a contract worth AU$855 million from AI infrastructure developer Firmus Grid for the delivery of modular electrical infrastructure over the next 18 months, according to a Tuesday filing with the Australian bourse.The contract involves the manufacturing, supply, and delivery of modular Firmus Power Cube units and associated high-voltage infrastructure, per the filing.Additionally, MAAS Group struck agreements to acquire an additional AU$300 million of Firmus shares and preference shares at AU$230 each. As a result of the latest deal, MAAS Group will own about 1.1 million shares and as many preference shares in Firmus. The company has now paid a total of AU$410 million for a roughly 3.2% interest in Firmus.MAAS Group now expects fiscal year 2026 underlying earnings before interest, taxes, depreciation, and amortization (EBITDA) of AU$300 million to AU$310 million, with the increase in guidance including a fair value uplift on its investment in Firmus.In May, the company guided for fiscal 2026 underlying EBITDA of AU$250 million to AU$280 million.MAAS Group shares rose 4% in recent Tuesday trade.

ACCC Conditionally Green Lights Heidelberg Materials' Acquisition of MAAS Group Holdings' Construction Materials Business

The Australian Competition and Consumer Commission (ACCC) said Friday that it approved Heidelberg Materials Australia Holdings' acquisition of MAAS Group Holdings' (ASX:MGH) construction materials business, subject to certain conditionsThe conditions include that Heidelberg divest three concrete plants and a quarry across Queensland and New South Wales.The competition watchdog found that without conditions, the acquisition could lead to lessening competition in the supply of ready-mix concrete in the Illawarra region of New South Wales, as well as Blackwater in Queensland, and in the supply of coarse aggregates in the Biloela region of Queensland.In response to these concerns, Heidelberg offered to divest ready-mix concrete plants in Blackwater, North Wollongong, and Bass Point, together with its Yalkara quarry.MAAS Group's shares rose 2% in recent trading on Friday.

MAAS Group's Relationship with Firmus a 'Very Large Revenue Opportunity,' Jefferies Says

MAAS Group Holdings' (ASX:MGH) relationship with Firmus is a "very large revenue opportunity," according to a Friday note by Jefferies.MAAS Group's strategic future is opaque. It is one of only two named power/electrical supply chain partners on Firmus' website. MAAS Group's likely win rate on Firmus projects remains uncertain. Firmus has proposed around 1.6 gigawatts of Australian capacity by fiscal 2028. The Firmus relationship is non-exclusive.Maas is likely to reenter quarrying and pursue other mergers and acquisitions (M&A) deals.The investment firm upgraded MAAS to a buy rating from a hold and raised the price target to AU$6.40 per share from AU$5.50 per share.

Mining Services Sector Too Strong for Transitory, Manageable Issues, Says Jefferies

Mining services sector's issues like diesel pressures or labor shortage are temporary or manageable, as the oil shock will ease after the Middle East peace deal and the industry has previously managed labor shortages, according to a Saturday Jefferies note.The mining capital expenditure and exploration cycle is too strong to ignore or underweight, which should last at least 3 years and probably beyond, Jefferies said, as it believes that upgrades will easily outweigh downgrades during this time, and sector earnings growth will easily surpass the ASX 300.Jefferies upgraded ALS (ASX:ALQ) and Imdex (ASX:IMD) to a buy and increased their price targets to AU$26 from AU$24.40 and AU$5 from AU$4.80, respectively.Jefferies also upgraded Perenti (ASX:PRN) to a buy and lifted its price target to AU$2.45 from AU$2.35.The investment firm downgraded MAAS Group (ASX:MGH) to hold with a price target of AU$5.50, while keeping the same rating on NRW (ASX:NWH) with a price target of AU$6.40, up from AU$6.20.Jefferies kept an underperform rating on Monadelphous Group (ASX:MND) and increased its price target to AU$24 from AU$23.ALS rose past 4%, Imdex jumped over 5%, Perenti surged almost 7%, NRW Holdings was up 4%, and Monadelphous climbed nearly 5% in recent Monday trade. MAAS Group fell roughly 3%.

MAAS Group's Sale of Construction Materials Unit to Heidelberg Under Phase One ACCC Review

MAAS Group Holdings' (ASX:MGH) proposed sale of its construction materials business to Heidelberg Materials Australia is under a phase one initial assessment by the Australian Competition and Consumer Commission (ACCC), the regulator said Thursday.Maas Group agreed to sell the unit to Heidelberg in February for up to AU$1.7 billion in cash.The ACCC said the two companies overlap in the supply of ready-mix concrete, coarse aggregates, fine aggregates, asphalt, and construction-related waste disposal and recycling services in certain regions in Australia.The phase one review of the deal is expected to conclude by July 13.The company's shares were up 1% in recent Friday trade.

MAAS Group Holdings' Launceston AI Factory Contract Reaches 35% Completion, Reaffirms EBITDA Guidance

MAAS Group Holdings (ASX:MGH) said its previously announced AU$200 million Firmus contract for a 100-megawatt Launceston AI factory is now about 35% complete, with delivery and commissioning on track within the year, according to a Monday Australian bourse filing.The company said the previously disclosed sale of its construction materials business to Heidelberg Materials Australia for cash consideration of up to AU$1.7 billion is progressing well, with conditions precedent and regulatory workstreams advancing in line with expectations and settlement on track within the year.MAAS Group and its syndicate of lenders have agreed to upsize the company's existing syndicated debt facility by AU$450 million to AU$1.18 billion, the filing added.The company said it has entered into agreements with Bull Capital providing exposure to a portfolio of commercial property developments in the NSW Western Sydney Aerotropolis precinct, including secured debt financing of up to AU$625 million in respect of about 193 hectares of land within the precinct.Fiscal year 2026 underlying EBITDA guidance has been reconfirmed at AU$250 million to AU$280 million, it added.The company's shares fell 1% in recent Monday trade.