Infratil Limited announced a substantial increase in the independent valuation of its data centre subsidiary, CDC, for the quarter ended 30 June 2026. CDC’s valuation surged by 23.6% to a mid-point of A$18.5 billion. This A$3.5 billion uplift from the valuation at 31 March 2026 reflects significant growth within the data centre operator’s portfolio. Consequently, Infratil’s 49.72% interest in CDC is now valued at A$9,213 million, marking an increase of A$1,759 million from A$7,454 million reported at the end of the previous quarter.
The robust increase in CDC’s valuation was primarily driven by strong growth in contracted capacity, which now exceeds 1 gigawatt (GW). CDC, a significant operator in the data centre sector, provides critical infrastructure for digital services and data storage. This demand has prompted an acceleration of CDC’s build programme, alongside an expansion of its total pipeline. The total leasable capacity pipeline has grown from 2.6 GW to 3.9 GW by FY40, indicating substantial future growth potential.
Further details reveal contracted capacity now exceeding 1 GW, including a 555 MW contract announced in May and an additional 14 MW in New Zealand. Leasable operating capacity grew by 90 MW to reach 550 MW, while leasable capacity under construction doubled to 810 MW. To support its growth trajectory, CDC’s net debt increased, reflecting its debt-funded build programme. The company also diversified its funding sources, issuing a A$1 billion hybrid capital bond. These positive movements were partly tempered by the independent valuation’s assessment of a 25 basis point increase in the long-term risk-free rate, which contributed to a higher cost of equity, rising from 11.84% to 12.45%.
