Enterprise DNA

Equinix

Operates data centres that link cloud and network providers, and leases whole campuses through xScale.

Revenue
Revenue of $2.63B in Q2 2026 (quarter to 30 June 2026)
Growth
Revenue up 16% year on year. xScale signed 134 MW of leases in the Americas in Q2 2026
Based in
Redwood City, US
Founded
1998
Listed
Public (EQIX)
Why it is winning

It raised its 2026 guidance and has 196 MW of xScale capacity under development.

The risk to watch

About $248M of Q2 revenue was one-off xScale fees, so the growth rate flatters the recurring business.

Money coming in

Who pays Equinix, and for what.

No customers of Equinix mapped yet.

Money going out

Who Equinix pays to do what it does.

Where it sits on the map

Competitors and neighbours

Nebius
NBIS Supplier

GPU cloud that builds its own data centre campuses and rents capacity to Microsoft and Meta.

Up to 1.2 GW campus under way in Missouri

Open profile
QTS Data Centers
Supplier

US data centre operator owned by Blackstone, and one of the largest in the country.

Blackstone bought QTS for about $10B in 2021

Open profile
Aligned Data Centers

Data centre developer with 51 campuses in the US, Latin America and Chile.

About $40B enterprise value (deal closed 21 July 2026)

Open profile
Eaton
ETN Supplier

Makes switchgear, transformers and power distribution equipment that sit between the grid and the server hall.

Record revenue of $8.5B in Q2 2026 (quarter to 30 June 2026)

Open profile
Quanta Services
PWR Supplier

Builds the transmission lines, substations and power connections that bring new electricity to data centres.

Revenue of about $9.6B in Q2 2026 (quarter to 30 June 2026)

Open profile
Schneider Electric
SU Supplier

Makes power, cooling and control equipment for data centres and grids.

H1 2026 revenue of EUR 21.2B (six months to June 2026)

Open profile
Comfort Systems USA
FIX Supplier

Mechanical and electrical contractor that installs heating, cooling and power systems in data centres.

Revenue of about $3.3B in Q2 2026 (quarter to 30 June 2026)

Open profile
Digital Realty
DLR

Owns and leases large data centre buildings to cloud and AI companies.

Record $1.9B of signed rent waiting to start

Open profile
EMCOR
EME Supplier

Electrical and mechanical contractor that builds and fits out data centres and other large buildings.

Revenue of about $5.15B in Q2 2026 (quarter to 30 June 2026)

Open profile

Sources: investor.equinix.com, nasdaq.com

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