Australia, New Zealand data centres sector poised for growth, Jefferies says
Jefferies says it is positive on the data centres sector in Australia and New Zealand; top picks being data centre operators NEXTDC NXT.AX and Infratil IFT.NZ
Says total data centre capacity in the region is 1.3 gigawatts and projected to grow at 25% CAGR
Says sector seeing strong demand driven by NVIDIA's NVDA.O chip sales
Brokerage has greater conviction in NXT and IFT because of their strong relationships with large customers and a 'robust' pipeline of future developments
It, however, flags that data centre provider Macquarie Technology Group MAQ.AX could potentially face intense competition from nearby facilities
Jefferies last week said Amazon's AMZN.O investment in cloud infrastructure and accelerated cloud migration are creating tailwinds in the region
YTD, MAQ, IFT and NXT are down ~30%, ~18% and ~6% respectively
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