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Equinix and PGIM Real Estate Enter into a US$575 Million JV to Extend Hyperscale Data Center Program into Australia
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Digitally Mature Businesses Expanding Digital Infrastructure 4x Faster Than Pre-Pandemic Levels
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Digitally Mature Businesses Expanding Digital Infrastructure 4x Faster Than Pre-Pandemic Levels
This accelerated pace of digital transformation is predicted to continue to fuel the rapid growth in interconnection bandwidth. According to the GXI Vol. 5, overall interconnection bandwidth, the measure of private connectivity for the transfer of data between organizations, is forecast to reach 21,485+ terabits per second (Tbps), or 85 zettabytes, per year by 2024, representing a five-year compound annual growth rate (CAGR) of 44%. This growth is aligned with the increasing demand for the digital infrastructure needed to bring more businesses online, facilitate electronic integration with partners and supply chains, and reach more people in distributed hybrid work environments.
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Equinix and PGIM Real Estate Enter into a US$575 Million JV to Extend Hyperscale Data Center Program into Australia
The facilities in the joint venture, which will be known as SY9x and SY10x, are expected to provide more than 55 megawatts (MW) of power capacity to serve the unique core workload deployment needs of a targeted group of hyperscale companies, including the world’s largest cloud service providers. The first xScale data center in Sydney – SY9x is expected to open in Q1 2022.
Combined with Equinix’s existing hyperscale joint ventures in Europe, Asia-Pacific and the Americas, this joint venture will bring the global xScale data center portfolio to more than $7.5 billion across 34 facilities, and an expected greater than 675 MW of power capacity when completed and fully constructed.
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