Core Viewpoint - Equinix forecasts annual revenue exceeding estimates due to strong demand for AI-related data center services, leading to a significant increase in its stock price [1] Financial Performance - Equinix expects revenue between $10.12 billion and $10.22 billion for 2026, surpassing the estimate of $10.07 billion [1] - The company forecasts first-quarter sales between $2.50 billion and $2.54 billion, above the estimate of $2.46 billion [1] - For the fourth quarter, Equinix reported revenue of $2.42 billion, which was below the estimated $2.46 billion [1] - Net income from continuing operations for the quarter was $264 million, compared to a loss of $14 million in the same quarter the previous year [1] Market Position and Strategy - Equinix is capitalizing on the surge in demand for specialized data centers driven by the integration of generative AI by corporations [1] - The company is expanding its capacity by investing in new data centers in emerging markets such as Chennai, India, and Jakarta, Indonesia [1] - CEO Adaire Fox-Martin emphasized the company's essential role in helping businesses manage distributed AI, cloud, and networking infrastructure, which provides a long-term competitive advantage [1]

A data-center landlord leasing to the operators of the AI matrix secured the highest credit grade from one of the top three ratings firms for the first time https://t.co/Q3b08xW0Ko ...

Core Viewpoint - Equinix has declared a quarterly cash dividend of $5.16 per share, marking the 11th consecutive year of dividend increases since its REIT conversion [1] Group 1: Dividend Announcement - The quarterly dividend will be paid on March 18, 2026, to shareholders of record on February 25, 2026 [1] - This increase reflects Equinix's commitment to returning value to its shareholders [1] Group 2: Company Overview - Equinix is recognized as the world's digital infrastructure company, facilitating connectivity globally [1] - The company’s digital infrastructure and data center footprint support innovations that enhance various aspects of life and work [1]

Core Insights - Cipher Mining Inc. has appointed Thomas Duda to its Board of Directors, enhancing its leadership as it aims to become a leader in data center development and operations [1][3] Group 1: Appointment Details - Thomas Duda brings over twenty years of real estate-focused investment experience to the board, which is expected to strengthen Cipher's strategic direction [1][2] - Duda currently serves as Vice President of Real Estate at Henry Crown and Company, leading real estate investment and asset management activities [2] - His previous roles include senior positions at Hunt Companies, Inc. and One William Street Capital Management, focusing on commercial real estate and infrastructure investments [2] Group 2: Company Strategy - Cipher is focused on developing and operating industrial-scale data centers for bitcoin mining and high-performance computing (HPC) hosting [3] - The company aims to be a market leader in innovation, particularly in bitcoin mining growth and data center construction [3]

Core Insights - Equinix reported strong fourth-quarter results, with a significant increase in annualized gross bookings and recurring revenue, indicating robust business momentum and a positive outlook for 2026 [1][2]. Financial Performance - Revenues for 2025 reached $9.217 billion, a 5% increase year-over-year on an as-reported basis, or a 6% increase on a normalized and constant currency basis [1][2]. - Operating income rose to $1.848 billion, marking a 39% increase from the previous year, driven by strong operational performance and reduced impairment charges [1][2]. - Net income attributable to common stockholders was $1.350 billion, a 66% increase from the previous year, resulting in earnings per share of $13.76, a 62% increase [1][2]. - Adjusted EBITDA for 2025 was $4.530 billion, with an adjusted EBITDA margin of 49%, reflecting an 11% increase year-over-year [1][2]. Quarterly Highlights - In Q4 2025, Equinix achieved record annualized gross bookings of $474 million, a 42% increase compared to the previous year [1][2]. - Monthly recurring revenue (MRR) for Q4 increased by 10% year-over-year, with a full-year MRR growth of 7% on an as-reported basis [1][2]. 2026 Guidance - For FY 2026, Equinix expects revenues to range between $10.123 billion and $10.223 billion, representing a projected increase of approximately 10-11% over the previous year [1][2]. - Adjusted EBITDA for 2026 is anticipated to be between $5.141 billion and $5.221 billion, with an adjusted EBITDA margin of around 51% [1][2]. - AFFO is expected to range from $4.158 billion to $4.238 billion, indicating an 11-13% increase over the previous year [1][2]. Business Developments - Equinix surpassed 500,000 interconnections globally, the highest in the industry, as enterprises increasingly rely on its services for AI, cloud, and network connectivity [1][2]. - The company opened 16 projects in 14 metros globally in 2025 and added 10 new expansion projects since October, bringing the total to 52 major expansion projects underway [2][3]. - Salesforce has deepened its partnership with Equinix to enhance its data and AI capabilities through a private network [2][3].

Core Viewpoint - EdgeMode is making progress in the regulatory review of its Form 211 submission to FINRA, which is a crucial step for enabling broker-dealers to publish quotations for the company's common stock in a qualified quotation system [1][2]. Regulatory Process - The sponsoring market maker has submitted the Form 211 and received an initial comment letter from FINRA, indicating that the review process is underway and that the company is engaging constructively with regulators [2][4]. - SEC Rule 15c2-11 requires broker-dealers to maintain current information about an issuer before publishing quotations, and clearance of Form 211 allows the sponsoring market maker to initiate quotations [3]. Company Objectives - Progress in the Form 211 process aligns with EdgeMode's broader corporate objectives, which include enhancing quoting capabilities and supporting broader participation from broker-dealers and investors [5]. - The company is advancing its power-secured, AI-ready data center campuses toward a Ready-to-Build (RTB) status and expanding strategic relationships across the energy, infrastructure, and capital-markets ecosystem [9]. Company Overview - EdgeMode develops scalable AI-ready data center campuses and integrated energy infrastructure, focusing on power-secured developments to meet the growing demand for AI and high-performance computing [7].

Core Insights - EdgeMode is making progress in the review of its Form 211 submission to FINRA, which is a crucial regulatory step for enabling broker-dealers to publish quotations for the company's common stock [1][2]. Regulatory Process - The sponsoring market maker has submitted the Form 211 and received an initial comment letter from FINRA, indicating that the review process is underway and that the company is engaging constructively with regulators [2][4]. - SEC Rule 15c2-11 requires broker-dealers to maintain current information about an issuer before publishing quotations, and clearance of Form 211 allows the sponsoring market maker to initiate quotations [3]. Company Objectives - Progress in the Form 211 process aligns with EdgeMode's broader corporate objectives, which include enhancing quoting capabilities and supporting broader participation from broker-dealers and investors [5]. - The company is advancing its power-secured, AI-ready data center campuses toward a Ready-to-Build (RTB) status and is expanding strategic relationships across the energy, infrastructure, and capital-markets ecosystem [9]. Company Overview - EdgeMode develops scalable AI-ready data center campuses and integrated energy infrastructure, focusing on power-secured developments to meet the growing demand for AI and high-performance computing [7].

股票近期走势 经济观察网万国数据近期完成3亿美元可转换优先股配售，旗下国际平台完成20亿美元融资，同时其人 工智能数据中心建设预计将加速。 根据近期公告和市场分析，万国数据-SW(09698.HK)将有以下值得关注的事件。 公司项目推进 公司于2026年2月6日完成向华泰资本投资有限公司的私募配售，募集资金将主要用于数据中心容量扩充 及一般企业运营。 机构观点 摩根大通在2026年2月的研报中预期，公司在中国的人工智能数据中心建设将于2026年加速，因国产芯 片供应增长、英伟达H200GPU供应明朗化及AI应用部署增加。 公司状况 2026年1月，万国数据旗下DayOne数据中心成功完成融资，资金将用于欧洲和亚太市场的AI就绪基础设 施扩张。 以上内容基于公开资料整理，不构成投资建议。 ...

Core Viewpoint - Iren Limited is transitioning from Bitcoin mining to AI compute, with a significant decline in revenue due to lower Bitcoin prices and operating hash rate, but presents a buying opportunity following a price target reduction by Cantor Fitzgerald [1][2][3]. Financial Performance - In FQ2 2026, Iren Limited reported revenue of $184.7 million, a 23% decrease from the previous quarter, primarily due to lower Bitcoin mining revenue and a reduction in operating hash rate [2]. - The decline in revenue was partially offset by growth in AI cloud revenue, attributed to the commissioning of new GPUs at the Prince George site [2]. Strategic Direction - The company is strategically pivoting towards AI compute, targeting an annualized revenue run rate (ARR) of $3.4 billion by the end of 2026 [3]. - Currently, Iren has approximately $2.3 billion in ARR under contract, including a significant $9.7 billion AI agreement with Microsoft, expected to ramp up progressively throughout the year [3]. - To support this growth, Iren has expanded its secured power capacity to over 4.5 gigawatts, including a new 1.6 gigawatt site in Oklahoma [3]. Business Operations - Iren Limited operates in the vertically integrated data center business in Australia and Canada, owning and operating computing hardware, electrical infrastructure, and data centers [4].

Summary of GDS Holdings Conference Call Company Overview - **Company**: GDS Holdings (GDS.OQ) - **Industry**: Data Center Operations in China - **Market Position**: Leading carrier-neutral IDC player in China, providing colocation, managed hosting, and consulting services to various sectors including cloud service providers and financial institutions [13][24] Key Points Domestic Market Expansion - GDS is poised for domestic expansion, with expectations of accelerated demand for AI data centers (AIDC) in FY26F due to improved chip supplies [1] - Anticipated alleviation of GPU chip supply bottlenecks for domestic cloud service providers (CSPs) is expected to enhance new bookings for independent data center operators [1][2] Financial Performance and Projections - GDS has raised a total of USD 685 million year-to-date through share sales and private placements, which will support capacity expansion in the domestic market [2] - The forecast for annual new contract commitments has been increased from 100,000 to 115,000 square meters for FY26-27F, which is expected to bolster EBITDA growth in FY27F [2] - Revenue projections for FY26F and FY27F have been revised upwards by 1.7% to 5.1%, reflecting improved order intake [3] Valuation and Target Price - The target price has been raised to USD 54.50 from USD 41.50, based on a sum-of-the-parts (SoTP) valuation methodology [3][5] - The domestic business is valued at 14x FY27F EV/EBITDA, while the international business (DayOne) remains at 20x [3][14] - Current valuation of 14x FY27F EV/EBITDA is considered undemanding, presenting a favorable risk-reward scenario as a domestic AI play [3] Risks and Challenges - Potential risks include lower-than-expected demand for data centers related to AI, slower overseas expansion, intensified competition, and supply chain disruptions due to geopolitical tensions [15][19] Financial Metrics - **Revenue Projections**: - FY24: CNY 10,322 million - FY25F: CNY 12,691 million - FY26F: CNY 14,796 million [4] - **Net Profit**: - FY24: CNY 1,931 million - FY25F: CNY 592 million - FY26F: CNY -74 million [4] - **EBITDA**: - FY26F: CNY 5,366 million - FY27F: CNY 6,445 million [10] Market Performance - GDS's stock has shown strong performance with a 64.5% increase over the past 12 months [9] - The implied upside from the current price of USD 42.69 to the target price is +27.7% [5] ESG Initiatives - GDS is committed to energy conservation and has implemented renewable energy systems in its data centers, aiming to reduce greenhouse gas emissions [16] Conclusion GDS Holdings is strategically positioned for growth in the domestic data center market, supported by increased demand for AI-related services and improved chip supply. The company's financial outlook is optimistic, with revised revenue and EBITDA forecasts, although it faces several risks that could impact its performance. The raised target price reflects a positive assessment of its market position and growth potential.