NextDC shares plunge 44% after data center firm cuts earnings forecast

Australian data center operator NextDC cut its earnings forecast by more than a third, sending shares down as much as 44% to A$5.15. The stock traded above A$16 in June. The drop adds to broader woes in the data center sector.

• NextDC shares fell 44% to A$5.15, down from above A$16 in June
• Earnings forecast cut by more than a third
• The plunge comes as Nvidia holds talks on injecting capital into Firmus after its failed IPO