Equinix Inc

EQIX: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$561.00	Rdlywq	Hmcsqvrld

Equinix Earnings: AI-Related Spending Continues to Drive Growth

Samuel Siampaus

Aug 8, 2024

Equinix continued to benefit from surging demand for data storage in the second quarter, raising full-year guidance for adjusted EBITDA and adjusted funds from operations and commenting on expectations of improved cabinet growth through the rest of 2024. Artificial intelligence should continue to drive demand for capacity, leading to a long growth runway for Equinix. Yet, we think new challenges, such as growing power density needs, will require growing capital spending. Our forecast already accounts for expanding profitability throughout the year, and we maintain our $710 fair value estimate.

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