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- November 1, 2024: Vol. 16, Number 10

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Equinix, GIC and CPP Investments form US$15b JV to expand US hyperscale data centres, support AI innovation

by Kali Persall

Equinix has signed a joint venture agreement with Singapore’s GIC and the Canada Pension Plan Investment Board (CPP Investments), with the intent to raise more than US$15 billion to accelerate the Equinix xScale data centre portfolio and support the rapid advancement of technology such as AI.

The Equinix xScale data centre portfolio enables hyperscale companies to add core deployments to their existing access point footprints at Equinix International Business Exchange data centres.

At full buildout, this new JV is expected to nearly triple the investment capital of the Equinix xScale programme. 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

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