SYDNEY — Shares in Megaport Ltd jumped 6.58% Tuesday, adding $1.18 to trade at $19.12, as the Brisbane-based network infrastructure provider rode a broader rally across Australian technology stocks fueled by a strong overnight session on Wall Street.

The move puts Megaport among the standout performers on the ASX 200 Tuesday, extending a run that has seen the stock climb sharply over recent months as the company repositions itself as a player in artificial intelligence infrastructure. The gain came as the ASX Information Technology sector broadly outperformed, tracking gains offshore after the Nasdaq Composite rose 2.13% overnight on the back of broad strength across megacap technology and semiconductor names.

A dramatic run higher

Tuesday's advance is the latest chapter in what has been an extraordinary run for Megaport shares. The stock, which trades on the ASX under the ticker MP1, has a 52-week trading range spanning from roughly $6 to a high of $22.22, reflecting just how volatile the past year has been for the company. Shares have surged well over 100% over the past three months alone, according to market data, as investors reassessed the company's role in AI and cloud connectivity following a series of major contract wins and a large capital raise.

Megaport, founded in 2013 and headquartered in Fortitude Valley, operates a software-defined network platform that allows businesses to connect to cloud service providers such as Amazon Web Services, as well as to data centers, internet exchanges and compute capacity around the world. The company says its platform now reaches more than 1,000 enabled data center........

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