Coatue’s 35 Most Important AI Stocks

24. Equinix, Inc. (NASDAQ:EQIX)

Number of Hedge Fund Holders: 55  

Equinix, Inc. (NASDAQ:EQIX) is a California-based real estate trust that operates data centers and other technology assets. In the third quarter of 2024, Equinix reported revenues of $2.20 billion, a 2% increase from the previous quarter. The company projects fourth-quarter revenues between $2.26 billion and $2.30 billion, surpassing analyst expectations. The surge in AI applications has been a key driver of this growth. AI workloads require substantial computing power and low-latency connectivity, services that Equinix’s data centers are well-equipped to provide. To further capitalize on the AI boom, Equinix has expanded its AI capabilities. The company offers Equinix Private AI with NVIDIA DGX, a turnkey, ready-to-run AI development platform that bridges on-premises and cloud environments, providing a unified view of all resources. The increasing demand for AI infrastructure has also allowed data center operators like Equinix to raise rents, especially as vacancy rates in primary North American markets have hit record lows.