Equinix on Monday announced that it’s growing its joint enterprise with GIC, Singapore’s sovereign prosperity fund, with an extra $3.9 billion investment decision in information centers for hyperscale corporations. The joint venture specially supports Equinix’s xScale information heart portfolio, which serves the one of a kind core workload deployment requirements of hyperscalers, which incorporates significant cloud companies.
“For many years, the world’s greatest cloud service vendors, which include Alibaba Cloud, Amazon Net Expert services, Google Cloud, IBM Cloud, Microsoft Azure, and Oracle Cloud Infrastructure, have partnered with Equinix to leverage its world-wide platform of much more than 220 facts facilities to directly hook up to their strategic business enterprise companions and shoppers,” Equinix CEO Charles Meyers claimed in a assertion. “With our xScale system, these hyperscalers can continue on to develop at Equinix when in shut proximity to an ecosystem of 10,000 customers.”
Equinix and GIC founded the joint undertaking in 2020. Subsequent the new investments, the xScale data center portfolio will be worth additional than $6.9 billion and span 32 facilities throughout a few areas — Europe, Asia Pacific, and the Americas. The complete xScale portfolio ought to deliver extra than 600 megawatts (MW) of electric power capacity when completely created out. Furthermore, Equinix and GIC previously have designs to include three far more web sites at a potential date.
Equinix shaped a joint enterprise with GIC to launch the xScale portfolio so the huge deployments could be structured in an off-balance sheet product. That allows Equinix maintain cash for financial commitment in its conventional retail data middle and digital infrastructure small business. Beneath the terms of the joint undertaking, GIC will individual an 80 percent fairness desire in the long run joint ventures and Equinix will personal the remaining 20 per cent.