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Equinix, a leading data center firm, has announced a significant joint venture with Singapore’s GIC and Canada’s Pension Plan Investment Board (CPP Investments) aimed at raising over $15 billion in capital. The announcement was made on October 1, 2024, and is set to nearly triple the investment in Equinix’s xScale data center program, which focuses on hyperscale facilities designed to support the increasing demands of artificial intelligence (AI) technologies.
The joint venture will see CPP Investments and GIC each holding a 37.5% equity interest, while Equinix will retain a 25% stake. Each partner will contribute equity commitments, and the venture is expected to take on debt to enhance its total investable capital to more than $15 billion over time. This funding will be directed towards acquiring land in the U.S. for new xScale data centers that can handle workloads exceeding 100 megawatts (MWs), aiming to add over 1.5 gigawatts of new capacity for hyperscale customers.
The closing of this joint venture is pending regulatory approvals, with expectations set for completion by the end of the year. This initiative comes at a time when companies are increasingly reliant on large-scale data centers to support their operations amid rapid advancements in AI and cloud computing technologies.
For further details and updates on this story, you can refer to the original source from Reuters.
Sources:
[1] https://www.capacitymedia.com/article/equinix-joint-venture
[2] https://www.investing.com/news/stock-market-news/equinix-signs-15-billion-joint-venture-to-build-us-data-center-infrastructure-3642985
[3] https://www.financemagnates.com/institutional-forex/equinix-bets-big-on-ai-growth-in-15-billion-data-center-expansion-report/
[4] https://www.reuters.com/technology/equinix-signs-15-bln-joint-venture-build-us-data-center-infrastructure-2024-10-01/
[5] https://www.sharenet.co.za/views/World/tag:reuters.com,2024:newsml_L4N3LD11L:1218295680
[6] https://money.usnews.com/investing/news/articles/2024-10-01/equinix-signs-15-billion-joint-venture-to-build-u-s-data-center-infrastructure
[7] https://commercialobserver.com/2024/10/equinix-joint-venture-data-centers/
[8] https://fxnewsgroup.com/forex-news/platforms/equinix-signs-jv-agreement-with-gic-and-cpp-investments-plans-to-raise-over-15bn/
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