News
REDWOOD CITY, Calif. — The digital infrastructure company Equinix plans to raise over $15 billion with a pair of partners to grow its data center presence to support AI demand.
Equinix signed a joint venture agreement in the form of a limited liability partnership with GIC and Canada Pension Plan Investment Board (CPP Investments) to raise the capital together as partners, according to Equnix today.
The joint venture is driven by increasing AI and cloud growth, and it is intended to accelerate growth of the Equinix xScale data center portfolio.
The portfolio helps hyperscale companies add core deployments to their existing access point footprints at Equinix International Business Exchange (IBX) data centers.
At full buildout, the joint venture should nearly triple the investment capital of the Equinix xScale program.
With the capital raised through the joint venture, Equinix expects the partners to purchase land to build xScale facilities on several over 100-megawatt (MW) campuses in the U.S., eventually adding over 1.5 gigawatts of new capacity for hyperscale customers.
The joint venture deal is subject to closing conditions.
