Equinix launched a $1 billion venture to build massive, 'hyperscale' data centers that can meet the needs of the largest cloud computing companies.
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An analyst said the venture is a"significant investment" in a market that's expected to be worth $62 billion by 2025.Equinix runs huge facilities where cloud giants set up thousands of servers in huge datacenters that support their massive networks. These so-called"hyperscale" data centers help them provide faster, more reliable services to customers within
"They are growing faster than they can build their own capacity, so they turn to outside suppliers like us to provide that large-scale capacity in various locations," Eric Schwartz, Equinix's chief strategy and development officer, told Business Insider. The joint venture with the Singapore sovereign fund, known as GIC, plans initially to build six facilities in Europe, including Amsterdam, Frankfurt and London. Equinix will own 20% of the venture, while Singapore venture, known as GIC, will control 80%. The venture is expected to close in the third quarter, Schwartz said.
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