Data-center REIT · No.1 in interconnection
Equinix
Equinix connects enterprise, cloud and AI workloads across its global data-center platform. Q3 2026 revenue rose 11% to $2.571 billion and adjusted EBITDA rose 15% to $1.321 billion. Annualized gross bookings reached a record $533 million (+35%) and interconnection revenue grew 10%. The company plans to deliver nearly 40% more cabinets in 2026 than initially expected and raised full-year revenue guidance to $10.325-$10.365 billion.
Business categories Data Center Facilities · AI Compute Infrastructure · primary
- Data Center Facilities: Digital Realty · Core Scientific · TeraWulf · KINX · Brookfield Asset Management Ltd.
EQIX Updated Oct 31, 2026 6 AI consumers· 5 recurring
Per the valuechain.wiki graph, Equinix is directly linked to 7 companies (5 supply, 2 revenue relationships) and reaches 36 companies within two hops; the links are backed by 9 dated sources, 3 of them primary filings (as of 2026-10-31).
Financials & Segments
- Total revenue · Q3 2026 revenue of $2.571bn (+11%)
- Customer concentration · Annualized gross bookings of $533m (+35%), interconnection revenue +10% and Fabric revenue +24%. Planned 2026 cabinet delivery is nearly 40% above the initial plan.
- Segments · Recurring revenue · Interconnection · Expansion and xScale
Revenue from
- Enterprises · hyperscalers (colocation · interconnection) High confidence
Colocation and interconnection (500k+) to enterprises and hyperscalers.Confirms KO Maeil Business Newspaper Stock Published Oct 30, 2026: Equinix posts $2.571bn Q3 revenue and raises annual guidanceConfirms EN Equinix, Inc. Published Oct 28, 2026: Equinix Reports Third-Quarter Results and Raises 2026 Guidance - Microsoft Medium confidence
xScale hyperscale datacenters to Microsoft and other hyperscalers. - VeriSign, Inc. Medium confidence
Equinix was described by Verisign in 2010 as a long-time data-center service provider and selected as a partner for jointly marketing cloud-based services on the Equinix platform, but the public disclosure does not establish whether the relationship remains current or state the amount paid.Confirms EN Equinix Published Nov 11, 2010: Equinix Helps Businesses Succeed in Growing Digital Economy
Pays to
- Legrand High confidence· spend proxy €14M · 2023 · supplier revenue disclosed for customer-level CDP allocation
Equinix procures data-center infrastructure from Legrand through Minkels and Legrand North America; the disclosed allocation-basis revenue is EUR 13,626,000. - Bloom Energy Medium confidence
Sources on-site datacenter power from Bloom fuel cells. - Vertiv Medium confidence
Sources datacenter power and cooling from Vertiv and others. - Oklo Medium confidence
Oklo SMR commitment for datacenter power. - Salesforce, Inc. Medium confidence
Equinix uses Agentforce, Data Cloud, and Marketing Cloud to improve lead generation and conversion, according to a Salesforce customer-success roundup published in August 2025. No individual contract value is disclosed. - Power · construction · capacity expansion (undisclosed) Low confidence
Power purchases, center construction and capacity.
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Snowflake | lead2 | +20.4 | -57.6 | +38.6 | -22.4 | +42.1 | +68.2 |
| Starbucks Corp | lead2 | +11.1 | -13.2 | -1.2 | -2.5 | -5.3 | +26.3 |
| Johnson Controls | lead2 | +77.4 | -19.3 | -7.6 | +39.8 | +53 | +21.7 |
| Kenvue Inc. | lead2 | · | · | · | +3.1 | -15.9 | +12.4 |
| Rockwell Automation, Inc. | lead2 | +41.2 | -24.8 | +22.6 | -6.2 | +38.4 | +12.3 |
| Illinois Tool Works Inc. | lead2 | +23.6 | -8.5 | +21.6 | -1 | -0.4 | +11 |
| Costco Wholesale | lead2 | +51.8 | -19 | +49 | +39.6 | -5.4 | +10.3 |
| Parker-Hannifin Corporation | lead2 | +18.3 | -6.9 | +60.8 | +39.6 | +39.5 | +10.2 |
| 3M Company | lead2 | +4.9 | -29.6 | -3.3 | +46.1 | +26.4 | +6.8 |
| The Kraft Heinz Company | lead2 | +8 | +18.2 | -5 | -13 | -16.3 | +6.1 |
| Walmart Inc | lead2 | +2 | -0.5 | +12.9 | +74 | +24.5 | +0.6 |
| Ralph Lauren Corporation | lead2 | +16.7 | -8.4 | +39.8 | +62.9 | +55 | -0.2 |
| Dover Corporation | lead2 | +45.7 | -24.3 | +15.2 | +23.3 | +5.2 | -0.5 |
| Veralto Corporation | lead2 | · | · | · | +24.3 | -1.6 | -3.2 |
| Roper Technologies | lead2 | +14.7 | -11.6 | +26.9 | -4.1 | -13.8 | -7.9 |
| ServiceNow | lead2 | +17.9 | -40.2 | +82 | +50.1 | -27.7 | -8 |
| Axon Enterprise, Inc. | lead2 | +28.1 | +5.7 | +55.7 | +130.1 | -4.4 | -9.2 |
| GoDaddy | lead2 | +2.3 | -11.8 | +41.9 | +85.9 | -37.1 | -15.9 |
| Take-Two Interactive Software, Inc. | lead2 | -14.5 | -41.4 | +54.6 | +14.4 | +39.1 | -16.6 |
| Stryker Corporation | lead2 | +10.2 | -7.4 | +23.8 | +21.3 | -1.5 | -20.4 |
| Fiserv | lead2 | -8.8 | -2.6 | +31.4 | +54.6 | -67.3 | -21.1 |
| Cognizant Technology Solutions Corporation | lead2 | +9.6 | -34.5 | +34.4 | +3.5 | +9.7 | -23.6 |
| Adobe Inc. | lead2 | +13.4 | -40.7 | +77.3 | -25.5 | -21.3 | -23.9 |
| Autodesk, Inc. | lead2 | -7.9 | -33.5 | +30.3 | +21.4 | +0.1 | -26.4 |
| Boston Scientific Corporation | lead2 | +18.2 | +8.9 | +24.9 | +54.5 | +6.8 | -55.2 |
| VeriSign, Inc. | lead1 | +17.3 | -19.1 | +0.3 | +0.5 | +18.4 | +21.3 |
| Microsoft | lead1 | +52.5 | -28 | +58.2 | +12.9 | +15.6 | +4 |
| Equinix | node | +20.3 | -21.1 | +25.4 | +19.5 | -16.9 | +34.3 |
| Bloom Energy | benef1 | -23.5 | -12.8 | -22.6 | +50.1 | +291.2 | +191 |
| Vertiv | benef1 | +33.8 | -45.3 | +251.8 | +136.8 | +42.8 | +73.2 |
| Legrand | benef1 | +20.3 | -7.1 | +12.8 | +11.9 | +39.3 | +6.1 |
| Salesforce, Inc. | benef1 | +14.2 | -47.8 | +98.5 | +27.8 | -20.2 | -12.9 |
| Oklo | benef1 | · | +0.7 | +6.5 | +101 | +238 | -42.5 |
| LS ELECTRIC | benef2 | -19.2 | +11.4 | +37.4 | +234.2 | +145 | +73.2 |
| Amazon | benef2 | +2.4 | -49.6 | +80.9 | +44.4 | +5.2 | +12 |
| Alphabet (Google) | benef2 | +65.3 | -39.1 | +58.3 | +36 | +66 | +8.3 |
YTD as of 2026-10-30 · source: Yahoo Finance
Equinix returned +19.5% in 2024, -16.9% in 2025 and +34.3% through October 30, 2026. Q3 revenue rose 11% to $2.571 billion, annualized gross bookings rose 35% to $533 million and planned 2026 cabinet delivery is nearly 40% above the initial plan. Caterpillar was +10.5% and Cummins -0.1% over the same 2026 window. Data-center demand reached the site and interconnection operator strongly in both operations and the stock, while generator suppliers showed operating growth but divergent equity reactions. Rates and REIT valuation also affect Equinix, so conversion of $5-$6 billion of capex into live capacity and recurring revenue is the next test.
Analysis generated from returns as of 2026-10-30Analyst ratings
Consensus: Buy 1 · Hold 1 · Sell 0 · Avg. target $1,195 · Price $1,013.7 (10-30) · Upside +18%
Analyses covering this node
- Power is the next bottleneck: where the chain crosses into the clock of generation, transmission and cooling Jun 23, 2026
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