EQIX
The data center landlord is having a very nice quarter
Equinix came out swinging in its second quarter, and not in a boring spreadsheet way. The company said monthly recurring revenue grew 11% year over year, annualized gross bookings jumped 23%, and it booked a record amount of backlog. Translation: customers are still lining up for the pipes, plugs, and interconnections that keep the internet-and every AI workload you can throw at it-from face-planting.
More connections, more confidence
The headline that really matters for investors is the demand picture. Equinix added a record 9,700 net interconnections in the quarter, which is basically the digital equivalent of building more entrances to a packed stadium because the line outside keeps getting longer.
That strength let management do the fun part: raise guidance. The company lifted both its full-year 2026 outlook and its longer-term view, citing stronger demand, better bookings, solid presales, and steady execution across the business.
Why you should care
For a company like Equinix, guidance isn't just a vibes check. It tells you whether enterprises, cloud players, and infrastructure-heavy customers are still willing to spend on the unglamorous stuff that makes modern tech work. If demand keeps holding up, the company has more pricing power, more room to keep filling its footprint, and more reasons for investors to believe the AI/data center trade still has legs.
Big picture: when the digital plumbing company says business is better than expected, the market tends to listen.