
Equinix shares fall as revenue, capital spending forecast disappoint investors
The company plans to double its current capacity over the next five years to capitalize on the growing demand for infrastructure to meet the surge in artificial intelligence use.
Shares of peers Iron Mountain (IRM.N), opens new tab, Digital Realty (DLR.N), opens new tab and Core Scientific (CORZ.O), opens new tab fell between 2% and 3%.
Equinix is ramping up investments to expand its infrastructure for rising AI inference demand. While this is expected to drive stronger growth in the long run — potentially crossing 10% by 2030 — near-term growth will remain modest, BMO Capital Markets analysts said in a note.
It expects its annual revenue to grow 7% to 10% from 2025 to 2029, slightly lower than its prior forecast.
Meanwhile, it updated its forecast for adjusted funds from operations (AFFO) per share growth to 5% to 9% now from 7% to 10%, which disappointed investors.
To position for growing AI inference demand, Equinix plans to increase annual capital spending to $4 billion to $5 billion from 2026 to 2029, up from $3.3 billion in 2025.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Daily Mail
18 minutes ago
- Daily Mail
Trump ally Jeff Bezos eyes liberal network in potential bombshell deal that could transform cable news
Jeff Bezos is considering purchasing cable network CNBC when it splits with its parent company later this year, according to a new report. The deal could transform cable news as the world's fourth richest man continues to cozy up to President Donald Trump. Bezos already owns left-leaning The Washington Post a nd is the founder of Amazon, but according to the New York Post, he believes CNBC could be a good 'neutral voice' to add to his empire. The business and financial news channel would 'align well with his interests,' a source closes to Bezos told the publication. Trump often took issue with Bezos over his ownership of The Washington Post during his first term, but the relationship has softened in the second Trump administration. Bezos joined a host of tech CEOs on stage with Trump at his inauguration and last week enjoyed an hour-long private meeting with the president at the White House. Comcast is planning to split off its cable assets, which includes CNBC, MSNBC, USA Network and E!, by the end of the year. CNBC will be folded into publicly traded company Versant, led by Chief Executive Mark Lazarus and a team of NBCUniversal executives. But sources close to Comcast and Versant have cast doubt over whispers of Bezos' interest in purchasing the network. One source said Bezos has not approached executives regarding his supposed interest. Another said Versant has big plans to grow CNBC, and is not interested in selling the asset. The publication stated Versant has a two year window in which it cannot sell major assets - including CNBC - without major tax implications. It is unlikely the company would be willing to jeopardize the tax-free status of the spinoff, no matter how much Bezos would be willing to pay, one source said. Bezos is the fourth richest person in the world, with a net worth of around $241billion, according to Forbes. He recently married Lauren Sanchez in an elaborate, celebrity-filled celebration in Italy, sparking fury among locals. Their $50million wedding had a star-studded guest list with many A-listers such as Oprah Winfrey, Orlando Bloom, Tom Brady, Kim Kardashian and Leonardo DiCaprio in attendance. The happy couple got married in a restored amphitheater on the island, as Sánchez wore a high-neck, long sleeve lace Dolce & Gabbana gown that took over 900 hours to make, per Vogue. The gown featured a flared skirt, long veil, and a tight-fitting waist, with tons of buttons going up the middle. 'Very Lauren. Sexy, happy, not too serious, not too drama. Elegant but at the same time sensual,' Domenico Dolce told the outlet about the bride's dress. The pair were seen having a romantic date night in St Tropez, France, on Wednesday.


Reuters
18 minutes ago
- Reuters
Gold flat as easing trade tensions offset support from weak dollar
July 24 (Reuters) - Gold prices held steady on Thursday after a sharp drop in the previous session, as easing trade tensions dented demand for safe-haven assets, overshadowing support from a weaker dollar. Spot gold was flat at $3,387.15 per ounce, as of 0138 GMT, after dropping 1.3% in the previous session. U.S. gold futures eased 0.1% to $3,492.50. "Yesterday, we saw gold prices seems like well might be building up for the next bullish run until the news came out on trade front, triggering some profit-taking," said Brian Lan, managing director at GoldSilver Central, Singapore. "We've seen the dollar has also weakened quite a bit, and of course, this also supports gold. So, I think this is a small retracement at this moment. We are, in fact, still quite bullish on gold." Signalling progress on tariffs, U.S. President Donald Trump struck a trade deal with Japan that lowers tariffs on auto imports. The European Union and the United States are nearing an agreement on a similar trade deal that would impose 15% tariffs on European imports, while waiving duties on some items, according to officials from the European Commission. Risk sentiment in the wider financial markets rose on the back of progress in trade talks and hopes that more deals could be in the offering. Offering support to gold, the U.S. dollar index (.DXY), opens new tab fell to a more than two-week low, making greenback-priced bullion less expensive for other currency holders. Investors also look forward to a rate decision from the European Central Bank due later in the day. Also on the radar, the U.S. weekly jobless claims numbers on Thursday and S&P Global's flash PMI data will be eyed to gauge economic health ahead of the Federal Reserve's monetary policy decision next week. Spot silver slipped 0.3% to $39.16 per ounce, platinum was steady at $1,411.53 and palladium dipped 1% to $1,265.50.


Reuters
an hour ago
- Reuters
Trump administration recommends location verification for AI chips
SAN FRANCISCO, July 23 (Reuters) - U.S. President Donald Trump's administration on Wednesday recommended implementing export controls that would verify the location of advanced artificial intelligence chips, a move that was applauded by U.S. lawmakers from both parties in both houses of Congress. The recommendation was part of a broader AI blueprint released on Wednesday that aimed to boost exports of AI hardware and software to U.S. allies and relax U.S. environmental rules to speed the construction of new AI data centers. But the plan released Wednesday also said the U.S. should continue denying access to advanced U.S. AI chips made by companies like Nvidia (NVDA.O), opens new tab and AMD (AMD.O), opens new tab to foreign adversaries. It added the U.S. government should "explore leveraging new and existing location verification features on advanced AI compute to ensure that the chips are not in countries of concern." The recommendation drew support from two lawmakers who previously introduced bills that would require location verification of chips after sale over concerns that they are finding their way to countries such as China, where their export is banned. Key details - such as how the technology would be implemented and how much cost it would add - remain to be worked out, both in the proposed bills and the Trump administration's recommendations. "I was encouraged to see that the recommended export control policy includes location verification mechanisms and aligns closely with our bipartisan Chip Security Act. I look forward to learning more of the technical details and next steps for end-use verification," Representative Bill Foster, an Illinois Democrat who helped introduce a chip-location bill in May, told Reuters. "Senator Cotton was pleased to see verification included in President Trump's AI Action Plan, as it's a vital part of his bipartisan, bicameral Chip Security Act and an important tool to keep advanced American technology out of the hands of Communist China," said Patrick McCann, a spokesperson for Senator Tom Cotton, an Arkansas Republican who introduced a similar bill in the U.S. Senate.