Equinix (EQIX): A 1998 Data Center Company that Found its Own AI Niche

Equinix, a data center company founded in 1998, has emerged as a key player in the AI infrastructure sector despite not being as well-known as major cloud providers. The company recently announced an expanded partnership with Nvidia and launched the Equinix Inference Exchange, allowing enterprise customers to run AI models using Nvidia's Enterprise Reference Architectures and Together AI's open-source platform, all delivered through Equinix's global data centers.

This move positions Equinix uniquely in the AI infrastructure market. The company operates over 280 data centers in 77 cities, connecting more than 10,500 customers and optimizing its facilities for Nvidia's B300 Blackwell Ultra GPUs. In the second quarter of 2026, Equinix's revenue grew 16% to $2.625 billion, and its adjusted EBITDA margin reached a record 53%.

Management even increased its guidance for the current year, reflecting strong financial momentum. With nearly $100 billion in market capitalization, Equinix is the most valuable data center REIT, surpassing Digital Realty. However, the company's capital expenditure guidance has nearly doubled to $5 billion to $7 billion annually, which could lead to financing challenges.

Investors will need to see concrete proof of enterprise inference demand translating into revenue before fully valuing the Nvidia and Together AI partnership. Despite the competition from hyperscalers and neocloud providers, Equinix's differentiated position and disciplined expansion strategy give it a strong foundation for AI-driven growth.