Equinix Launches $15B U.S. xScale Data Center Venture

Equinix, Inc. has announced a joint venture with GIC and the Canada Pension Plan Investment Board to raise over $15 billion in capital, aimed at expanding its xScale data center portfolio primarily in the U.S. This initiative seeks to meet the growing demand for artificial intelligence and cloud services by enabling hyperscale companies to enhance their infrastructure. Equinix will own a 25% stake in the venture, while GIC and CPP Investments will each hold 37.5%. The expansion will nearly triple the investment in Equinix's xScale program, adding over 1.5 gigawatts of capacity across several large campuses. The closing of the joint venture is expected by the fourth quarter of 2024, subject to regulatory approvals.