Equinix

Equinix delivers as the global leader in interconnection, with a $70 billion market cap and $8.7 billion in annual revenue across 260+ data centers in 33 countries. Its ecosystem hosts 90% of global cloud providers and over 10,000 enterprise networks, generating a 25% EBITDA margin that is 8 points higher than the average data center REIT. The company directly benefits from AI infrastructure demand, with a 40% revenue growth from AI-related workloads in 2024, outperforming #4 Simon Property Group’s 5% retail recovery growth by a wide margin.