SCX.ai lands on the ASX

SCX.ai, an Australia 'sovereign' AI inference-as-a-service (IaaS) provider, has officially listed on the under the ticker SCX.

The company deploys production AI inference capacity on SambaNova ASIC chips within geolocationally-controlled data centre infrastructure, giving Australian and regional enterprises access to AI compute that keeps data onshore and under Australian control. 

SCX's Initial Public Offering (IPO) raised gross proceeds of $40 million.

The company advised that token utilisation growth has more than doubled each month between April to July 2026, reflecting what it describes as "accelerating adoption of sovereign AI inference capacity", while contracted Annual Recurring Revenue (ARR) has grown to A$6.5 million as of 31 July 2026, driven by new enterprise customer wins and expansion across the existing customer base.

Active paying customers have grown 277% to 49 as of end of July 2026, and as SCX now has over 400 active users of the SCX Platform (comprising fee paying and non-fee paying users), compared with 298 as of 23 June 2026.

The company also highlighted "continued momentum" in access to global token distribution with a new partnership with global token distribution company LLMGateway to sell SCX capacity into the international market. 

The positive sales progression on both ARR and average daily capacity utilisation has lifted the paid utilisation on Node 1 - which it launched back in March - to just under 35% at the end of July 2026.

SCX's Node 1 infrastructure is operational at Equinix SY5 in Sydney, powered by SambaNova's SN40L application-specific integrated circuits, which have been reported to deliver 2.5x - 5.6x the performance-per-watt of comparable GPU-based alternatives for selected stable inference workloads.

Additional capacity will be added with the deployment of Node 2, which the company is now aiming to have operational by the end of 2026. 

Beyond the initial deployments of Nodes 1 and 2, the company aims to expand its infrastructure footprint across additional locations in Australia to meet expected future demand. SCX has also continued to add a range of new and capable high-performance open weight models and enterprise services that are tailored to enterprise applications.

In May, SCX announced it is making its ASIC-powered inference nodes discoverable and accessible to enterprise, government agencies, and developers across the Equinix ecosystem.

Customer acquisition accelerated over the last three months, with the company's go-to-market activities targeting enterprise and government customers across financial services, technology, healthcare, legal and government-adjacent sectors.

SCX’s CEO and co-founder, David Keane, said that local onshore demand combined with the growing network demand from international gateways like LLMGateway provides the foundations to continue to scale to meet customer demand.

"The numbers that matter most right now are capacity utilisation and conversion. We have over 400 active users of the platform that underpin the company’s near-term revenue potential," he said.

"Token utilisation has more than doubled each month from April to July 2026, which tells us our products are delivering and customers are growing into their commitments. On the infrastructure side, our SambaNova ASIC AI hardware has continued to prove out. As energy becomes a sensitive commercial issue for data centres, we are delivering on the efficiency metrics that matter.

"This is the story that resonates with every CFO and CTO who is facing a growing token bill and data residency obligations. We are confident that we have the infrastructure, the partnerships, the pipeline and now the public market platform to build something genuinely significant for our shareholders."

SCX said that its growth Priorities for 2H FY26 are to establish Node 2 ahead of pipeline plan in CY 2026; convert the 400+ active users into paying customers and grow token utilisation across the existing and new customer base; and continue building the go-to-market team to service the enterprise and government customer pipeline.