Equinix has signed a joint venture agreement with GIC and Canada Pension Plan Investment Board (CPP Investments), with the intent to raise more than $15 billion to accelerate the Equinix xScale data center portfolio and support the rapid advancement of technology such as AI.
The Equinix xScale data center portfolio enables hyperscale companies to add core deployments to their existing access point footprints at Equinix International Business Exchange data centers. At full buildout, this new JV is expected to nearly triple the investment capital of the Equinix xScale program. With the capital raised through the JV, Equinix expects to purchase land to build new state-of-the-art xScale facilities on multiple greater-than-100-megawatt campuses in the United States, eventually adding more than 1.5 gigawatts of new capacity for hyperscale customers.
Under the terms of the agreement, CPP Investments and GIC will each control a 37.5 percent equity interest in the joint venture
