Can ASX 200 Stock NextDC Become Closest to Nvidia?
Nvidia has created enormous value through the artificial intelligence boom and this ASX AI stock could be the closest equivalent positioned to benefit from the AI revolution ahead.
NEXTDC Limited (ASX: NXT)
NEXTDC Limited (ASX: NXT) is now seen by many investors as the ASX stock which is closest to Nvidia because the company sits at the centre of the artificial intelligence infrastructure boom.
Artificial intelligence has created some of the biggest winners in global markets and Nvidia Corporation has led that trend. However, ASX does not have a semiconductor company of similar scale.
NEXTDC instead plays a different but equally important role in the AI ecosystem because the company builds and operates the data centre infrastructure that supports modern computing.
NextDC does not design the chips that power AI but it builds the digital infrastructure where those chips operate.
Its hyperscale data centres supply high density power cooling and connectivity which are essential for large GPU clusters that run AI training and cloud computing.
Demand for AI infrastructure is a major driver behind this expansion. Every generative AI model, cloud platform and large- scale data application needs massive computing capacity.
The company at the time of writing has a market capitalisation of about $8.2 billion. The business in the first half of FY26 reported net revenue of about $189.2 million which was 13% higher than the previous year.
Underlying EBITDA also rose 9% which brought it to around $115.3 million because demand for data centre capacity grew at a massive rate.
Contracted utilisation jumped 137% to roughly 416.6MW. Billing utilisation also rose 29% to 119.8MW which shows how quickly customers are expanding their deployments.
NEXTDC also holds a forward order book of about 297MW which should convert into revenue and earnings growth through to FY29.
Management expects FY26 net revenue of $390 million to $400 million and underlying EBITDA of $230 million to $240 million because AI and cloud demand is growing at an unprecedented rate.
(Source: Company Announcements)
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