Company Interview / AI hits the ASX

Key points:

Keane positions SCA.ai as Australia’s first listed AI infrastructure provider focused on sovereign inferencing capacity States that local tokens and AI agents can reduce data sovereignty and cost concerns for enterprises Highlights efficient, water‑free infrastructure in existing buildings as core to the economic and environmental model

Newly listed SCA.ai (ASX:SCX) has raised $40 million at $0.30 per share, implying a market capitalisation of about $75 million. CEO David Keane sets out a vision for Australia’s first dedicated AI infrastructure provider on the ASX, aiming to supply local “tokens” – the computing capacity that powers chatbots, agents and other AI applications – from sovereign, high‑performance infrastructure located in existing Australian buildings.

Keane states that millions of Australians currently send sensitive data offshore to access AI, and argues this risks digital dependence on the United States and China. He frames SCA.ai’s focus on local inferencing – the “using” of AI models rather than training them – as the key growth opportunity, contending that businesses now want AI agents that actually perform work, from automating accounts payable and HR workflows to updating sales teams in real time.

SCA.ai’s first Sydney node is, in Keane’s view, already 35% filled, with early demand from Australian AI innovators, software companies and enterprises seeking production‑grade AI. He highlights energy‑efficient chips that do not require water cooling, avoiding new large data centre builds, and expects the company’s unit economics to support alternative funding rather than repeated equity raisings as it rolls out additional nodes and targets international customers via AI aggregators such as LM Gateway.