Latest X2M Connect (ASX:X2M) News

Takeovers, mine studies and record quarterly updates drove the week, with buyers chasing companies that put hard numbers around cash flow, reserves and contract wins. Losses were just as sharp where traders sold into reopenings or questioned whether fresh capital and non-binding deals would turn into profits.

Nanoveu led the week after live drone trials, while Gratifii slumped on deal changes and X2M dropped after a discounted capital raising. Across the tech board, buyers backed real revenue, cash receipts and contract wins, but punished dilution, legal noise and weak post-gap trading.

X2M Connect has secured $2 million in a placement to boost its data centre and AI energy management platform, with a fully underwritten $1 million Securities Purchase Plan to follow. The capital raise supports sensor integration, platform enhancements, and battery energy systems aimed at cutting data centre precinct energy costs by up to 20%.

Mining news drove the week, with drilling hits, funding wins and takeover bids pushing several small and mid-cap names sharply higher or lower. The biggest swings came from tin, platinum group metals and copper, while gold M&A in WA stayed at the centre of trading.

Small-cap tech delivered a split screen this week. Contract wins, capital raisings and takeover steps pushed several stocks higher, while weaker sales and heavy dilution fears hit others hard. The biggest swing came from 8common, while Atomos and FirstWave led the falls for very different reasons.

X2M Connect has landed a A$1.1 million contract to supply 50,000 additional personal safety devices to Seoul’s AI-powered smart city infrastructure, pushing contracted volumes to 150,000 and underpinning a strong start to FY27.

Space batteries, telecom AI and a healthcare software leadership change drove the week’s biggest moves in small-cap tech. Capital raisings and debt deals also shaped trading, with several early jumps fading as investors weighed dilution and execution risk.

X2M Connect has unveiled a new AI-enabled bidirectional streetlight controller in South Korea, expanding its smart city platform and tapping into a $225 million annual market.

Capital raisings drove the week in ASX tech, with investors backing AI and data centre spending but punishing deep discounts. The biggest moves came from small-cap fundraisings, while AI infrastructure names drew the clearest buying support.

X2M Connect has partnered with Resi Ventures to deploy its AI-driven platform in regional Australian data centres, starting with a major integrated precinct near Ballarat. The collaboration targets the surging demand for edge computing and sustainable energy management across regional infrastructure.

Tiny tech stocks dominated the tape, with Thrive Tribe, Harvest Technology and Bridge SaaS posting the biggest weekly jumps. Capital raisings, AI product launches and defence-linked deals drove buying, while heavily discounted offers and fraud concerns hit the losers.

X2M Connect has secured $1.49 million in its second tranche placement and plans to issue additional options to investors, pending shareholder approval, to support its expanding smart city technology ambitions.