Southern Cross AI (SCX.ai) has formally opened its bookbuild for an initial public offering on the Australian Securities Exchange, targeting an August listing.
The AI infrastructure and inferencing service provider, backed by Ellerston Capital, is seeking to raise $40 million in the deal.
Advisers circulated emails to potential investors on Wednesday, confirming that the bookbuild would commence on Thursday morning.
The move signals accelerating momentum in the Australian AI listing market.
SCX.ai joins a growing cohort of technology firms capitalizing on investor appetite for artificial intelligence exposure.
The company’s focus on infrastructure and inferencing services positions it within the high-growth segment of the AI supply chain, distinct from pure-play model developers.