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Equinix (EQIX) Boosts Cloud Connections, Ties Up With Google Cloud
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Equinix (EQIX - Free Report) has announced enhanced virtual connections to the cloud, and a partnership with Google Cloud to accommodate workloads involving artificial intelligence (AI) and machine learning.
The important upgrades to its Equinix Fabric platform include the launch of 25 and 50 Gbps virtual connections to cloud service providers, which will empower businesses to handle larger workloads, such as AI training models and scalable enterprise networks, seamlessly and efficiently. While Google Cloud will be the first to leverage this capability, integrations with other major cloud platforms are anticipated for the future.
Starting from the third quarter of 2023, users of the platform will have the ability to establish virtual connections to the cloud with a bandwidth capacity of up to 50 Gbps.
These enhanced connections will act as boons to the growing number of businesses transitioning to a hybrid multi-cloud world, enabling quicker, easier data transfers between different cloud platforms.
The above-mentioned capability is expected to accelerate the development of complex, data-intensive applications and facilitate hybrid multi-cloud connectivity between critical workloads. It will help build more scalable backbone networks, and deploy more flexible content delivery networks.
The latest enhancements and the partnership with Google Cloud mark a milestone for Equinix, reflecting its commitment to innovation and reinforcing its position as a key player in the digital infrastructure landscape. Investors may want to consider the potential long-term benefits of this strategic partnership and the role it plays in Equinix's growth strategy.
Going forward, Equinix’s global data-center portfolio is well-poised to benefit from the high demand for the inter-connected data-center space, given the rise in enterprise cloud adoption and customers’ digital demand. The company’s recurring revenue model, strong pricing power and diversity in its customer interconnection have benefited it in recent quarters.
However, stiff competition from industry peers and a high-interest rate environment raise concerns for the company.
Shares of this Zacks Rank #3 (Hold) company have gained 13.2% in the past three months compared with the real estate market’s growth of 3.8%.
The Zacks Consensus Estimate for EastGroup Properties’ current-year funds from operations (FFO) per share has moved marginally north over the past month to $7.56.
The Zacks Consensus Estimate for Innovative Industrial Properties’ 2023 FFO per share has moved 3.6% upward in the past two months to $8.66.
Note: Anything related to earnings presented in this write-up represent funds from operations (FFO) — a widely used metric to gauge the performance of REITs.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.
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Equinix (EQIX) Boosts Cloud Connections, Ties Up With Google Cloud
Equinix (EQIX - Free Report) has announced enhanced virtual connections to the cloud, and a partnership with Google Cloud to accommodate workloads involving artificial intelligence (AI) and machine learning.
The important upgrades to its Equinix Fabric platform include the launch of 25 and 50 Gbps virtual connections to cloud service providers, which will empower businesses to handle larger workloads, such as AI training models and scalable enterprise networks, seamlessly and efficiently. While Google Cloud will be the first to leverage this capability, integrations with other major cloud platforms are anticipated for the future.
Starting from the third quarter of 2023, users of the platform will have the ability to establish virtual connections to the cloud with a bandwidth capacity of up to 50 Gbps.
These enhanced connections will act as boons to the growing number of businesses transitioning to a hybrid multi-cloud world, enabling quicker, easier data transfers between different cloud platforms.
The above-mentioned capability is expected to accelerate the development of complex, data-intensive applications and facilitate hybrid multi-cloud connectivity between critical workloads. It will help build more scalable backbone networks, and deploy more flexible content delivery networks.
The latest enhancements and the partnership with Google Cloud mark a milestone for Equinix, reflecting its commitment to innovation and reinforcing its position as a key player in the digital infrastructure landscape. Investors may want to consider the potential long-term benefits of this strategic partnership and the role it plays in Equinix's growth strategy.
Going forward, Equinix’s global data-center portfolio is well-poised to benefit from the high demand for the inter-connected data-center space, given the rise in enterprise cloud adoption and customers’ digital demand. The company’s recurring revenue model, strong pricing power and diversity in its customer interconnection have benefited it in recent quarters.
However, stiff competition from industry peers and a high-interest rate environment raise concerns for the company.
Shares of this Zacks Rank #3 (Hold) company have gained 13.2% in the past three months compared with the real estate market’s growth of 3.8%.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the REIT sector are EastGroup Properties (EGP - Free Report) and Innovative Industrial Properties (IIPR - Free Report) , presently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for EastGroup Properties’ current-year funds from operations (FFO) per share has moved marginally north over the past month to $7.56.
The Zacks Consensus Estimate for Innovative Industrial Properties’ 2023 FFO per share has moved 3.6% upward in the past two months to $8.66.
Note: Anything related to earnings presented in this write-up represent funds from operations (FFO) — a widely used metric to gauge the performance of REITs.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.