SCX.AI HOLDINGS LIMITED (SCX)
Share Price Analysis and Chart

15/09/2026

1

Initiation of coverage with Buy

$0.80

185.71%

Canaccord Genuity initiates coverage on SCX.Ai with a Buy rating and a $0.80 target price.

The Australian sovereign artificial intelligence infrastructure provider supplies Inference-as-a-Service using SambaNova ASIC hardware to offer enterprise customers lower-cost, onshore compute capacity without offshore data routing.

The analyst views the vertically integrated model as a scarce, scalable opportunity, noting the first $15m node deployment can generate $17m to $18m in annual recurring revenue at 85% utilisation.

Four total nodes are forecast to deploy between FY26 and FY28 for $62m in capital expenditure, driving projected revenue to $76m by FY30 at 80% gross margins.

Canaccord Genuity considers the valuation compelling, with the stock trading on an enterprise value-to-revenue multiple of 3.2x for FY27, reflecting a -68% discount to diversified global and domestic-listed peers.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -1.00 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of minus -0.80 cents.