(Reuters) -Data center firm Equinix raised its forecast for annual results on Wednesday, signaling steady demand from its enterprise customers investing in AI solutions.
The company has benefited from the increased demand for data center infrastructure amid a surge in artificial intelligence usage.
Major cloud firms, including Google, have pledged significant investments this year to expand on AI, underscoring robust demand for AI-related products and solutions.
Equinix provides organizations with secure, resilient and power-efficient environments to house their IT equipment within its data centers, while offering shared infrastructure and connectivity solutions.
The company now expects annual revenue to be between $9.23 billion and $9.33 billion, compared with prior projection of $9.18 billion to $9.28 billion.
It now expects annual per-share funds from operations, a key measure of cash flow, to be in the range of $37.67 to $38.48 per share, compared with previous forecast of $37.36 to $38.17.
In the second quarter ended June 30, the company’s revenue rose 4.6% to $2.26 billion, in line with estimates, according to data compiled by LSEG.
(Reporting by Harshita Mary Varghese in Bengaluru; Editing by Mohammed Safi Shamsi)
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