IFT - Infratil

[LoungeLizard]

https://www.nzx.com/announcements/475645

CDC's independent valuation increased by 23.6% during the quarter to a mid-point of A$18.5 billion.

[Left Field]

In NBR today, Sumitomo Mitsui Trust Bank has purchased 15% of Morrison's plus an initial agreement to invest $US 500 Million with Morrisons.

Likely will help fund some key IFT initiatives in Data Centres, Renewable Energy etc.

More power to Morrisons.

[Left Field]

I don't pay much heed to Brokers recommendations, however when I heard  that Forsyth Barr have just upgraded IFT's target SP to $18.90 with an "outperform" rating......I couldn't help smiling.

Onwards and upwards.

[Left Field]

....Sumitomo Mitsui Trust Bank has purchased 15% of Morrison's plus an initial agreement to invest $US 500 Million with Morrisons.

Likely will help fund some key IFT initiatives in Data Centres, Renewable Energy etc.

More power to Morrisons.

And where to now for Morrisons? Here's Paul McBeth's thoughts.....

https://www.thebottomline.co.nz/paul-mcbeth-morrisons-next-evolution/

[Left Field]

IFT/CDC/CEN in discussions regarding proposed new 250 MW data centre at Stratford. Taranaki ... early days.

https://api.nzx.com/public/announcement/477535/attachment/474145/477535-474145.pdf

[Left Field]

Interesting proposal for One NZ & 2Degrees to share their NZ infrastructure networks

https://api.nzx.com/public/announcement/478703/attachment/475639/478703-475639.pdf

- One NZ and 2degrees plan to combine each company's mobile radio access network (RAN)
infrastructure into a new and jointly-owned wholesale business (holding name RANCo)
- RANCo will enable a new way of sharing RAN infrastructure which will make more efficient use of
existing infrastructure and reduce unnecessary duplication, while maintaining competition
between One NZ and 2degrees.
- More resilient, future-proofed mobile infrastructure will create a stronger platform for future
investment in New Zealand's growth as digital connectivity becomes ever-more important to
work, live and play in a digital world
- One NZ and 2degrees will continue to separately own, and invest in, the parts of their businesses
that drive competition and differentiation, including spectrum management rights, core
networks, fibre backhaul assets and satellite innovations
- The proposal is subject to approvals, including from the NZ Commerce Commission and
Overseas Investment Office, as well as some reorganisation steps. Subject to these, the
transaction is aiming for completion in the first half of 2027.

[Left Field]

Promotion outlining the latest capabilities for AI  by Chat GPT

https://openai.com/index/gpt-6-astra/

[Shareguy]

I see it's now a top 5 holding in Pies Growth 2 fund.

[Basil]

I have a very strong opinion about the risks of A.I.

Recent revelations by key senior executives of A.I. companies that A.I. poses a serious existential threat to the human race is something that I find deeply disturbing.  I am sure we have all seen Terminator 3 where A.I. becomes self aware and tries to wipe out the human race.  Maybe its not through nuclear weapons but biological weapons designed by A.I.  Look at the effect Covid had on the world and that was the (accidental ?) release of a human designed bioweapon.

It seems to me that no matter how well meaning any guard rails the American's might be put in place and how effective or ineffective they are, effectively the American's and Chinese are in an "arms race" to see who can develop A.I. to their advantage more quickly in terms of weaponizing A.I. on the battlefield.

We're already seeing A.I. used in drone warfare and we've already seen mass production of humanoid robots in China.   https://www.bing.com/videos/riverview/relatedvideo?q=video+of+chinese+robots&mid=D059C995AF371F5ABEB3D059C995AF371F5ABEB3&churl=https%3a%2f%2fwww.youtube.com%2fchannel%2fUCIzXayRP7-P0ANpq-nD-h5g&FORM=VIRE Unfortunately its only a matter of time before self thinking weaponized robots are used in warfare.

From an ESG perspective I want no part whatsoever in supporting this march towards possible self destruction. To me, investing in data centers is an absolute no go zone.  The risks are arguably FAR greater than  investing in nuclear weapons.  At least they're controlled by humans and we've coexisted for the last 80 years since Hiroshima without world-wide destruction with MAD (mutually assured destruction).

I think Morrisons are too clever for their own good betting the ranch on data center's which have substantial potential to be used as part of the ecosystem for an existential crisis.  Investing in data centers is worse than investing in weapons manufacturers from an ESG perspective in my opinion as the risks are clearly far, far greater.

Maybe the market is starting to wake up to the fact that the speed of advance in this area is not a good thing.  https://www.goodreturns.co.nz/article/the-markets/nzx-50-hits-2-month-low-as-infratil-knocked-by-ai?utm_source=GR&utm_medium=email&utm_campaign=Final+Bell   

Whether that's the case of not I have felt uneasy about A.I. for a long time and recent revelations are deeply concerning so I want no part in supporting this madness.

[Shareguy]

Yes I also have concerns. Comments by The CEO of anthropic that he is worried that the advancement of AI is going too fast and could take over the internet and humans.

https://www.1news.co.nz/2026/09/14/new-warnings-about-ai-risk-to-humanity-revive-long-running-debate/

[Left Field]

 IFT upgrade today...... an additional $20 mill  EBIDAF for FY27

https://api.nzx.com/public/announcement/479856/attachment/477025/479856-477025.pdf

CDC is a key contributor to Infratil's earnings growth and has today increased its expected FY27
EBITDAF from a prior range of A$680 million to $720 million, to a new range of A$710 million to
$750 million.

This reflects CDC's confirmation that it has signed another 70MW of contracts, to be
delivered across late FY27 and early FY28, as well as operating cost savings and the delivery of
non-recurring managed services.

CDC now has 350MW of deployed capacity and a total of 1.1GW of contracted capacity that is
expected to deliver A$2.2 billion of EBITDAF when fully deployed.

Given CDC's FY27 guidance update, Infratil has in turn increased its proportionate EBITDAF
guidance for FY27 from a prior range of NZ$1,300 million to 1,400 million, to a new range of
NZ$1,320 million to 1,420 million. Guidance for Infratil's other operating businesses is unchanged.

Full updated Investor presentation here - https://api.nzx.com/public/announcement/479856/attachment/477016/479856-477016.pdf

[Basil]

https://www.nzherald.co.nz/business/ex-google-worker-adds-to-ai-alarm-warns-of-potential-to-kill-us-all/OJU3MOD5IVDVVJIYU3CSJQYDRY/

[LoungeLizard]

I have a very strong opinion about the risks of A.I.

Recent revelations by key senior executives of A.I. companies that A.I. poses a serious existential threat to the human race is something that I find deeply disturbing.  I am sure we have all seen Terminator 3 where A.I. becomes self aware and tries to wipe out the human race.  Maybe its not through nuclear weapons but biological weapons designed by A.I.  Look at the effect Covid had on the world and that was the (accidental ?) release of a human designed bioweapon.

It seems to me that no matter how well meaning any guard rails the American's might be put in place and how effective or ineffective they are, effectively the American's and Chinese are in an "arms race" to see who can develop A.I. to their advantage more quickly in terms of weaponizing A.I. on the battlefield.

We're already seeing A.I. used in drone warfare and we've already seen mass production of humanoid robots in China.   https://www.bing.com/videos/riverview/relatedvideo?q=video+of+chinese+robots&mid=D059C995AF371F5ABEB3D059C995AF371F5ABEB3&churl=https%3a%2f%2fwww.youtube.com%2fchannel%2fUCIzXayRP7-P0ANpq-nD-h5g&FORM=VIRE Unfortunately its only a matter of time before self thinking weaponized robots are used in warfare.

From an ESG perspective I want no part whatsoever in supporting this march towards possible self destruction. To me, investing in data centers is an absolute no go zone.  The risks are arguably FAR greater than  investing in nuclear weapons.  At least they're controlled by humans and we've coexisted for the last 80 years since Hiroshima without world-wide destruction with MAD (mutually assured destruction).

I think Morrisons are too clever for their own good betting the ranch on data center's which have substantial potential to be used as part of the ecosystem for an existential crisis.  Investing in data centers is worse than investing in weapons manufacturers from an ESG perspective in my opinion as the risks are clearly far, far greater.

Maybe the market is starting to wake up to the fact that the speed of advance in this area is not a good thing.  https://www.goodreturns.co.nz/article/the-markets/nzx-50-hits-2-month-low-as-infratil-knocked-by-ai?utm_source=GR&utm_medium=email&utm_campaign=Final+Bell   

Whether that's the case of not I have felt uneasy about A.I. for a long time and recent revelations are deeply concerning so I want no part in supporting this madness.

Interesting that you are concerned about datacentres providing the means of ending humankind, but you seem far less concerned about climate change ending the planet (and humankind). Nor have you ever expressed any concern about the rise of China on the back of getting cheap goods (and cars). Me thinks your concern for humanity is just a re-packaging of your frustration at IFT's continued success.

[Basil]

You are simply trying to package it another way to make your conscience feel better. Climate change is another worry, more so for the younger generations because its gradual.  Existing wars are also a worry.  For what its worth I drive a Japanese made car.   

We've survived 80 year's with nuclear weapons because of MAD, (mutually assured destruction) and the fact that the red buttons of this world that fire those weapons are controlled by humans. Those that think humankind will survive another 80 years with A.I. running amuck are sticking their head in the sand like an Ostrich, in my opinion.

[LoungeLizard]

You are simply trying to package it another way to make your conscience feel better. Climate change is another worry, more so for the younger generations because its gradual.  Existing wars are also a worry.  For what its worth I drive a Japanese made car.   

We've survived 80 year's with nuclear weapons because of MAD, (mutually assured destruction) and the fact that the red buttons of this world that fire those weapons are controlled by humans. Those that think humankind will survive another 80 years with A.I. running amuck are sticking their head in the sand like an Ostrich, in my opinion.

I don't see you expressing any worry at all about climate change - you have consistently expressed distaste for companies whose reporting includes minimising carbon footprint.
It appears that you are ok about gradual extinction - it's just the thought of AI accelerating that process that you object to? Got that.