capital · May 19, 2026
Megaport Shares Surge on $254 Million in AI Compute Contracts as Latitude.sh Demand Accelerates
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Megaport CEO Michael Reid highlighted the May 14, 2026 announcement of US$182.9 million in contracts through Latitude.sh. Since the November 2025 acquisition, Latitude.sh's on-demand ARR excluding strategic deals grew 31 percent to US$58.7 million as of April 25, 2026 from US$45 million at December 31, 2025. The new contracts satisfy the committed US$86 million capital expenditure undertaking from the acquisition valued at up to US$300 million. Latitude.sh now operates as a Megaport subsidiary delivering on-demand CPU and GPU infrastructure.
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