Megaport Ltd shares jumped nearly 10% on Tuesday. The network and cloud infrastructure provider extended a rally driven by its expansion into computing services for artificial intelligence, as investors positioned ahead of its quarterly update later this week.

Megaport shares rose A$1.54, or 9.60%, to close at A$17.58. In the session they traded between A$16.30 and A$17.83. About 1.67 million shares changed hands, and the company's market value rose to about A$4.2 billion.

The stock is up about 14% over the past year, though it remains below levels near A$20 reached earlier this month.

The broader S&P/ASX 200 rose 0.46% to 8,850.1. Australian technology stocks were lifted by a strong night on Wall Street, where chipmakers and AI-related shares rallied after Anthropic filed for an initial public offering and Meta Platforms unveiled plans to raise up to US$95 billion to fund its AI build-out.

Megaport did not release any market-sensitive news on Tuesday.

From network to compute

Megaport, based in Brisbane, built its business on software-defined networking. Its platform lets companies connect to cloud providers, data centers and........

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