Leading cloud computing companies, including Google, Amazon, and Microsoft, are set to invest approximately $500 billion in capital expenditures in 2023. Google alone is projected to invest between $175 billion and $185 billion by 2026, a significant increase from $91.5 billion in the previous year, primarily aimed at enhancing its AI computing capacity.
Equinix (NASDAQ: EQIX), a global data center REIT, supports this growth by expanding its portfolio, which currently includes 273 data centers across 77 markets in 36 countries, catering to over 10,000 customers, including major tech firms. In Q3, Equinix reported record annualized bookings of $394 million, a 25% increase year-over-year, with 4,400 deals closed. The company has initiated a “build bolder” strategy to double its capacity by 2029, with planned investments of $4 billion to $5 billion annually from 2026 to 2029.
Under this strategy, Equinix is currently undertaking 58 major projects worldwide to meet the rising demand for data center services, aiming to bring 3 gigawatts of new capacity online. As a result, the company’s ambitious expansion may enable it to double its value in the coming years.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
