Telstra expands Aura Network to strengthen Australia's east-west digital corridor

Impact · against what's priced in

The expansion of the Aura Network is a positive but modest catalyst for Telstra as it secures hyperscale anchor tenants. For Microsoft and Google, the news is immaterial as it represents routine operational capacity procurement already encompassed by their cloud growth assumptions.

MSFT+0.00

Already priced in

The price assumes

Server and cloud revenue growing near 30% annually

Securing fiber capacity on the Aura Network is a standard operational requirement for the 30% cloud growth the market already expects.