people · May 17, 2026
Megaport Shares Surge 27% After Latitude.sh Contract Wins
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Megaport shares rose about 27% after subsidiary Latitude.sh secured three fixed-term contracts for GPU, CPU, networking, and storage infrastructure for two US-based AI technology customers. The deals include US$182.9 million total contract value and US$65.2 million annualised recurring revenue, with incremental capital expenditure of US$101 million for Nvidia GPU hardware. Megaport CEO Michael Reid stated the company is at the forefront of an accelerating inflection point across the industry. The announcement occurred on May 14, 2026.
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