Centuria Capital Group is leveraging its $21.8 billion real estate platform to scale AI compute infrastructure through ResetData, aiming to capture growing sovereign and enterprise demand amid global supply constraints.
- Centuria partners with ResetData to expand sovereign AI compute infrastructure
- Australia’s first sovereign AI Factory operational with early contracted revenue
- Plans to scale power capacity to 200MW+ aligned with customer demand
- Strategic partnerships with Nvidia, Dell, and Dicker Data underpin growth
- Potential equity monetisation options including ASX or NASDAQ IPO
Centuria’s Strategic Pivot into AI Compute Infrastructure
Centuria Capital Group (ASX:CNI) is making a decisive push into the burgeoning AI compute sector through its partnership with ResetData, an AI infrastructure platform focused on sovereign GPU-as-a-service (GPUaaS). Leveraging its extensive $21.8 billion assets under management, primarily in real estate and data centres, Centuria is positioning itself at the intersection of infrastructure ownership and AI compute monetisation.
This move taps into a global AI compute shortage driven by hyperscaler capex surging towards US$600 billion annually, which is tightening supply and pushing GPU prices higher. ResetData, founded in 2021 and acquired 50% by Centuria in 2024, operates Australia’s first sovereign AI Factory, delivering contracted compute capacity with revenues expected to scale as utilisation ramps.
Operational Progress and Commercial Momentum
ResetData’s AI Factory 1 (AI-F1), located in Docklands, Victoria, is fully leased to an international offtake partner, marking a significant commercial milestone. Early revenue streams have commenced from initial GPU deployments, with additional capacity being aligned to customer demand. The platform benefits from an integrated operational team of over 30 staff and the broader Centuria platform’s 500+ personnel, providing asset management, development, and capital expertise.
Centuria’s established relationships with technology giants Nvidia and Dell, including being one of three Australian Nvidia Cloud Partners and the only Dell Titanium Partner, provide priority access to world-class compute infrastructure. Distribution channels include Dicker Data and direct ResetData sales efforts, targeting enterprise, government, and managed service providers.
These developments build on Centuria’s track record of delivering steady income and growth, as seen in recent periods where the group declared interim distributions and dividends, reflecting a stable financial foundation for expansion interim distribution of 5.20 cents and fully franked dividend of AUD 0.052.
Scaling Power Capacity and Infrastructure Optionality
Power availability remains a critical bottleneck in AI compute expansion. Centuria has executed heads of agreement for approximately 13MW of power via third-party data centre operators, with settlement contingent on customer commitments. The group’s existing data centre assets offer a pathway to scale power capacity beyond 200MW, supported by ongoing discussions to expand capacity in line with demand.
Centuria’s portfolio includes multiple data centres across Australia, including facilities in Wellcamp Toowoomba, Clayton, and Perth, with development optionality ranging from ground leases to fully fitted data centres. This asset base underpins ResetData’s ability to deploy scalable AI compute infrastructure with sovereign control, meeting government and enterprise requirements.
Market Dynamics and Valuation Landscape
The neocloud market remains nascent but is rapidly institutionalising, with hyperscalers securing long-duration contracts that tighten supply and enhance revenue visibility. ResetData operates alongside other Australian neoclouds such as Firmus and Sharon AI, which have seen significant valuation uplifts driven by contract wins and capital raises.
Despite ResetData’s strategic importance, limited value is currently ascribed to it within Centuria’s market capitalisation, which stood at approximately A$1.4 billion as of May 2026. This contrasts with Firmus’s post-money valuation surging to A$7.6 billion and Sharon AI’s NASDAQ market capitalisation exceeding A$1 billion, highlighting potential upside if ResetData’s growth trajectory continues.
Centuria is exploring multiple funding pathways for ResetData, including debt facilities with Dell Financial Services and its 24 banking partners, as well as equity options such as partial sell-downs or an IPO on the ASX or NASDAQ. This financial flexibility aims to support the rapid scaling of AI compute infrastructure aligned with market demand.
Global and Regional AI Compute Trends
The briefing contextualised ResetData’s growth within a global AI compute shortage exacerbated by supply chain constraints, power limitations, and geopolitical factors influencing data sovereignty. Australia’s competitive advantages include sovereign data control, favorable regulatory frameworks, and a strong renewable energy pipeline, positioning it as an emerging regional compute hub.
Centuria’s sovereign AI Factory aligns with government priorities for locally controlled AI infrastructure, addressing enterprise and research sector needs. The group’s integrated platform and strategic partnerships offer a distinctive position to capitalise on accelerating AI workloads, which are forecast to grow at nearly 20% CAGR globally through 2030.
Centuria’s AI ambitions build on its recent strong performance, having surpassed FY25 targets and outlined a growth strategy that includes expanding its sovereign AI footprint alongside traditional real estate funds Centuria Surpasses FY25 Targets and Centuria Capital Surpasses FY25 Guidance.
Bottom Line?
Centuria’s integrated approach to sovereign AI infrastructure through ResetData positions it to benefit from structural AI compute shortages, but scaling power and securing long-term contracts remain critical hurdles.
Questions in the middle?
- How will Centuria’s power capacity agreements evolve as ResetData scales GPU deployments?
- What impact will potential equity monetisation have on ResetData’s valuation within Centuria’s market cap?
- Can Centuria leverage its real estate and capital platform to outpace other Australian neocloud competitors?