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NextDC's 44% plunge signals growing anxiety over AI data-center build costs; Publicis-LiveRamp deal clears FTC with conditions; Google expands Gemini tools for small businesses.
DateTuesday, October 20, 2026
EditionNo. 87
Stories8
Sources10
Read5 min
Bespoke Business Development · Daily Business NewsTuesday, October 20, 2026 · No. 87
The Brief · Today in Business
An Australian data-center operator's shares fell 44%, erasing approximately A$3.1 billion in market value after delays to electricity infrastructure at its Melbourne data centre, underscoring mounting concerns about AI infrastructure investment risks. The FTC approved Publicis Groupe's $2.2 billion acquisition of LiveRamp Holdings with conditions requiring the platform to maintain equal access to digital advertising services. Google introduced new tools in Gemini AI for small businesses, including brand development, financial analysis and customer insights. Oil prices climbed as escalating Middle East tensions fuelled fears of supply disruptions, with Brent crude rising to $110.40 per barrel and West Texas Intermediate crude gaining to $99.27 per barrel. The October jobs report showed 182,000 non-farm payrolls added, above expectations, with average hourly earnings rising 4.1% year-on-year.
AI infrastructure risk repricing: NextDC plunged 44% after cutting financial outlook and halting development projects due to electricity network delays at its Melbourne data centre.
Publicis-LiveRamp deal clears FTC with conditions requiring neutral and nondiscriminatory access to preserve competition in digital advertising markets.
Google Gemini for SMBs: New tools allow business owners to connect with Google services (Ads, Workspace) and third-party apps (Shopify, Canva) for branding and financial analysis.
SpaceX earnings surge: Revenue grew 161% year-over-year to $14.6 billion in Q3, with AI segment revenue reaching $7.6 billion.
Resilient jobs market: 182,000 payrolls added in October with unemployment stable at 4.1%, though wage growth at 4.1% remains above Fed comfort zone.
Oil market volatility: Brent crude climbed to $109.73 a barrel and WTI rose to $98.58 as Middle East supply risks drive trading.
44%
NextDC share price decline
after cutting guidance and halting projects due to electricity delays
$2.2B
Publicis-LiveRamp acquisition value
FTC approves with conditions on data access and firewalls
above Fed's 3.5% comfort level, supporting case for rate caution
Top Story
NextDC's 44% Collapse Signals Deep Worry Over AI Data-Center Economics
Australian operator's sharp guidance cut and project halt underscore investor concerns about infrastructure spending required to support artificial intelligence demand.
NextDC's shares plunged 44% on Wednesday after the Australian data-centre operator cut its financial outlook and put future development projects and land acquisitions on hold, erasing approximately A$3.1 billion in market value. The immediate problem is a delay to electricity-network upgrades serving its M3 data centre in Melbourne.
The company reduced FY2027 revenue guidance to A$475 million-A$500 million, while underlying EBITDA guidance fell to A$245 million-A$265 million. The move reflects a broader divide in global technology markets between surging demand for AI computing and growing concerns about the cost of building the infrastructure to support it, with Chinese technology groups placing more than US$35 billion in orders for export-compliant AI chips despite export restrictions.
The collapse signals investor anxiety about whether AI investment economics make sense when fundamental infrastructure constraintsu2014such as electricity grid capacityu2014lag far behind demand. For operators and businesses dependent on cloud and data services, the repricing reflects growing uncertainty about capex budgets and the timeline for AI monetization to justify infrastructure spending. The failure of electricity networks to keep pace with tech companies' buildout plans poses a material risk to AI deployments across Australia and potentially other regions facing similar bottlenecks.
October Jobs Report Shows 182K Payrolls, Wage Growth Stays Above Fed Target
The Bureau of Labor Statistics reported 182,000 non-farm payrolls added in October, above the 160,000 consensus, with the unemployment rate unchanged at 4.1% and wage growth at 4.1% year-on-year. Average hourly earnings rose 4.1% year-on-year, still above the level consistent with 2% inflation, keeping the Fed cautious about cutting rates.
Oil Prices Rise on Middle East Supply Fears as Geopolitical Tensions Persist
Oil prices climbed Wednesday as worries over Middle East supply disruptions kept the market on edge, with attacks on tankers near the Strait of Hormuz and Saudi energy facilities denting sentiment. Brent crude futures gained 0.86% to $109.73 a barrel while U.S. West Texas Intermediate crude rose 0.78% to $98.58 a barrel.
FTC Clears Publicis-LiveRamp Deal With Conditions on Data Access and Firewalls
The FTC approved Publicis Groupe's $2.2 billion acquisition of LiveRamp Holdings if the French media giant agrees to offer equal access to the digital advertising platform's data connectivity services to rivals, with requirements to establish firewalls to protect competitor data against potential misuse. Publicis expects the acquisition to close by end 2026.
Google Expands Gemini With AI Business Hub for Small Businesses
Google introduced new tools in its Gemini artificial intelligence assistant for small businesses, including a dedicated business landing page that brings together brand development, financial analysis and customer insights, with integrations to Google services (Business Profile, Ads, Workspace) and third-party applications including Shopify, Canva, Dropbox, Wix, Zoho and Xero. The new features will begin rolling out globally to all Gemini app users in the coming days.
SpaceX Q3 Earnings Show 161% Revenue Growth Driven by AI Segment
SpaceX reported third-quarter revenue of $14.6 billion, representing 161% year-over-year growth, with its Super Intelligence division producing sales of $7.6 billion, a substantial increase from the prior year's $813 million. The AI segment produced a profit in Q3 with operating income of $431 million.
U.S. Restricts Cloudera Green Card Sponsorships Amid Tech Worker Immigration Scrutiny
The US has barred California-based technology company Cloudera Inc. from participating in visa sponsorships, reflecting broader scrutiny of technology company immigration practices.
Google Gemini Business Hub Targets Time Savings for Entrepreneurs on Marketing and Finance
Google said tens of millions of small business owners already use Gemini to brainstorm products and manage feedback, and new tools will let businesses define visual identity by uploading brand kits and use image-generation to create visuals for product launches while retaining specified visual style. The tools will also help small business owners interpret financial information.
Infrastructure Risk and AI Economics Reshape Market Sentiment
NextDC's 44% collapse signals that infrastructure constraints pose real execution risk to AI buildout plans, particularly when electricity networks lag tech demands. For operators relying on cloud services or planning data-center capacity, the repricing is a reminder that vendor guidance on capex timelines and availability should be treated with caution. The resilient jobs report and 4.1% wage growth indicate labor market tightness persists, keeping pressure on operating costs and limiting the Fed's room to cut rates. Wage inflation will continue to erode margins unless businesses can find productivity offsets.
Google's expansion of Gemini business tools offers SMBs a practical path to AI-assisted marketing, finance and operations at lower cost than building custom integrations, though security and data privacy considerations remain critical for adoption. Oil's rise toward $110 (Brent) amid Middle East tensions poses near-term cost pressure on energy-dependent businesses and logistics operations, warranting close attention to fuel surcharges and contract terms in the next two quarters.
•On the Watch List
U.S.-India trade negotiations: Secretary of State Marco Rubio will meet leading Asian business figures in Mumbai as Washington seeks to strengthen economic ties with India and continues bilateral trade deal discussions.
China criticizes DeepSeek ban: China criticized a U.S. ban on DeepSeek products after the Department of Homeland Security ordered federal systems to remove technology developed by the Chinese company, signaling escalating tech-sector geopolitical tension.
UK approves North Sea gas project: The British government approved a major offshore natural gas project in the North Sea on Wednesday, defying its pledge to halt new fossil fuel extraction.
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