30 Most Important AI Stocks According to BlackRock

20. Equinix, Inc. (NASDAQ:EQIX)

Number of Hedge Fund Holders: 56  

Equinix, Inc. (NASDAQ:EQIX) is a California-based real estate trust that operates data centers and other technology assets. It is hard to identify stocks that are exposed to AI growth trends but have strong fundamentals and consistent dividend growth to back up the AI hype. Equinix offers the perfect blend of growth and value in this regard. The company is well positioned to take advantage of AI trends that are supercharging rentals. Per real estate firm CBRE, the amount of data-center space in the US grew 26% last year, even as a record amount was under construction. The price of available space was also rising while vacancy rates were negligible — a sign that supply was not keeping up with demand.

Equinix, Inc. (NASDAQ:EQIX) has forced Wall Street analysts to pay attention to this aspect of the AI boom. Truist recently raised the price target on the stock to $935 from $915 and kept a Buy rating, noting that the price target increase was based on second quarter results and adjusted revenue growth and expense assumptions.