Australia's artificial intelligence landscape has been in focus the past week after AI giant Anthropic signed an agreement to use part of a $32 billion data centre proposed for a site on Queensland's Western Downs.
According to the ABC, the data centre is set to be the largest in Australia and will draw as much power as about 1.5 million average Australian households.
Anthropic aims to start using the centre in 2027 to power its artificial intelligence program, Claude, to answer user questions, rather than to train AI models.
Image source: Getty Images
What does it mean for ASX AI shares?
Anthropic's agreement to anchor a proposed $32 billion data-centre development in Queensland is more than another major artificial intelligence announcement.
It is a sign that the next phase of the AI boom is increasingly becoming a story about data centres, electricity, connectivity, and physical infrastructure.
Importantly, the companies positioned to benefit may not necessarily be the businesses developing AI models themselves.
Instead, they could include data centre operators, property developers, telecommunications and connectivity providers, electricity generators, and infrastructure companies.
Here are three ASX AI shares to keep an eye on.
Nextdc Ltd (ASX: NXT)
This ASX stock is one of the most obvious Australian-listed beneficiaries of increasing demand for data-centre capacity.
The company has been aggressively expanding its data-centre footprint as demand from cloud computing and AI increases.
The Queensland announcement doesn't directly add revenue to NextDC, as the Western Downs project is not a NextDC development.
However, it provides another piece of evidence that AI companies are prepared to make substantial, long-term commitments to computing infrastructure.
Goodman Group (ASX: GMG)
Goodman offers another way to gain exposure to the theme.
It is traditionally known for logistics and industrial property.
However, Goodman Group has increasingly positioned itself around data-centre development.
A significant proportion of the group's development pipeline is now associated with data centres.
This is an important development because the AI boom is creating demand for a very different type of real estate.
A hyperscale AI data centre needs enormous amounts of electricity, fibre connectivity, cooling capacity, and grid access.
That scarcity can potentially make suitable sites extremely valuable.
Dexus (ASX: DXS)
Dexus is particularly interesting because it has an actual connection to the proposed Queensland development.
Dexus' Australian Data Centres business will be working with partners on the Western Downs project.
That doesn't mean Dexus will receive anything approaching $32 billion in revenue.
But it does give the company direct exposure to the development of Australia's rapidly expanding data-centre infrastructure.
For investors, the distinction between project value and corporate earnings remains critical.
