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X2M Connect expands data pipeline above 200MW
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X2M Connect expands data pipeline above 200MW

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  • X2M Connect signed a non-binding agreement to develop AI data centres in Queensland.
  • The deal lifts the company's prospective data centre pipeline above 200MW.
  • X2M aims to deliver and manage infrastructure using an AI management platform.

X2M Connect (ASX:X2M) entered a non-binding partnership agreement with an Australian master development company to construct regional Queensland data centre precincts between 10MW and 100MW.

The agreement follows a binding data centre deal announced on Aug. 27, which carried an estimated project cost exceeding $250 million.

X2M CEO Mohan Jesudason said, "Securing a second partnership agreement is encouraging validation of X2M's data centre strategy and underlying demand in the sector."

The five-year agreement creates a framework for future expansion across multiple sites in Queensland and broader Australia.

Following the announcement, the X2M Connect share price was unchanged at $0.010.

The company will act as an AI chip and compute provider by delivering infrastructure and managing facility networks.

X2M cited research projecting Australian data centre and connectivity infrastructure investment to reach $190 billion by 2030.

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