Key developments

Overall, most listed digital infrastructure stocks in the region are up over the last year, but with wide spreads in performance among the group. Growth in cloud and AI is improving sentiment towards DC stocks, but economic growth is expected to be sluggish relative to previous years, creating uncertain performance for other Digital Infrastructure equities.

Uniti Group (US)

Uniti Group’s stock has risen over 20% in the last month, rebounding after bottoming out following the news in early May that the company will merge with Windstream Holdings. There have been no public updates since the initial announcement regarding the merger. Note that Uniti Group is a different company to Australia’s Uniti Wireless.

Adisyn

Adisyn’s stock soared over 66% over the past month, the microcap announced during the month that it has received firm commitments to raise ~$1.5m via a share placement to fund ‘new technology partnerships including the Collaboration Agreement with 2D Generation, a prominent semiconductor IP business, with the aim of generating next generation solutions’.

Cogent Communications

Cogent Communications rose over 18% in the last month despite any price sensitive announcements, suggesting a rebound after bottoming out following the company’s poor Q4 2023 results released in late February, where revenue was down 1.2% compared to Q3 to US$272.1m and Adjusted EBITDA was down 16% compared to Q3 to US$110.5m.

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