Equinix (EQIX) RBC Capital Markets 2026 Global Communications and Infrastructure Conference summary

Strategic positioning and growth outlook

• AI inference and agentic AI are driving strong demand, with expectations that agentic AI will represent 50% of AI demand and 30–40% of data center activity within three years.

• Recent guidance was raised by three points for both top and bottom line growth, reflecting confidence in future performance.

• The company is prioritizing a diverse customer ecosystem and is selective in accepting new demand to maximize long-term value.

• Open source and open weight AI models are seen as positive, increasing the need for interconnection and flexibility.

• U.S. growth is outpacing other regions due to better economics and greater access to space and power, though demand is strong globally.

Product innovation and interconnection

• Interconnection business is robust, supported by the launch of Fabric One, enabling near-instant connections within the ecosystem.

• Cross Connect growth is attributed to customers seeking flexibility and access to a rich ecosystem, not just compute.

• Pricing for interconnection is bundled and expected to rise due to increased value, with ongoing evaluation of pricing models.

• Power density per cabinet has increased by 60%, reflecting the shift to higher-performance workloads.

• AI inference orchestration is increasingly taking place within data centers for economic and latency reasons.

Capacity expansion, supply chain, and capital allocation

• 40% more power was deployed this year than anticipated, with plans to double power delivery in 2026 versus 2025.

• Long-term relationships with contractors and power providers enable accelerated construction and reliable delivery.

• Plans to deploy 1 GW of power by 2029, with 2 GW of land and power available for future growth.

• M&A focus is shifting toward technology assets to complement interconnection offerings, with recent activity in the Nordics.

• Growth is primarily financed through debt, maintaining investment grade status, with no current plans for equity issuance.