Megaport Ltd., an Australian networking provider, announces a plan to raise A$827.3 million (about $594 million) through a fully underwritten entitlement offer. The company says it will use the proceeds to support the creation of an artificial intelligence inference cloud and to execute additional new contracts. According to filings referenced by multiple outlets, the fundraising is described as one of Australia’s largest deals this year, occurring as companies seek financing for the broader data center and AI infrastructure buildout. Separately, Megaport also reports securing four new AI infrastructure contracts with a combined value of A$458.9 million (about $329 million). These contracts are linked to the company’s effort to move from its earlier role in connecting customers to other cloud providers toward offering more distributed AI infrastructure services. The reporting focuses on both the scale of the planned capital raise and the related commercial momentum, presenting the fundraising as a means to fund Megaport’s inference-focused cloud expansion and related execution of the newly won agreements.