Equinix, Inc. Common Stock REIT BofA NY Global Real Estate Conference 2026
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research at Bank of America. Happy once again to be part of the REIT conference. It is funny, I popped in the presentation this morning with Ken Caplan from Blackstone, and it seems that the entire conversation was data center development. I was joking with some investors earlier that a year ago, nobody wanted to talk data centers. Now it seems to be taking over the entire conference. Really happy to have Equinix here with us again this year, who, as you know, one of the earliest, most established developers in data centers. Thank you both for being here.
Yeah. Happy to be here.
We have Stu, who is the SVP of Global Real Estate, and then his colleague as well, who heads up the Americas, and they both have like quick intros.
Yeah. Okay. Stu Thompson. I have been at Equinix for 15 years, mostly in real estate and corporate development roles.
Before global real estate, I ran our corporate development team in EMEA, and before that, in the Americas.
Great. I'm Arquelle Shaw. I'm the President of the Americas, and prior to that, I was responsible for running Americas sales for the last six years.
About seven years, right? Seven years in total.
Yeah. That's great. Thank you both.
I mentioned the heightened investor interest earlier, and Equinix recently, reportedly expect to invest, what, $5 billion-$7 billion annually from 2027 through 2029, excluding M&A. You've expanded your development portfolio budget significantly. I'm curious to know, from your perspective, what changed within Equinix to support that level of higher development activity, and what's changed in your view of the industry to also support that?
Yeah. We're just a very customer-centric organization. All of that is really because of the demand signals. Folks like Arquelle before this ran Americas and did such an amazing job. Our go-to-market team is super strong. Obviously, there's a lot of market tailwinds behind our back as well, sort of guiding that. It's really just strong performance, and we pulled forward some of our builds that maybe we had one or two more phases to go, but we pulled them forward to match that demand. Then we significantly increased our portfolio of powered land to match demand. That's why you see that $5 billion to $7 billion rising. A lot of that's going to our core markets. Most of that capital is going to markets where we have existing ecosystems. We've got great visibility into customer demand there.
Really just leveraging what we've been doing for the last 30 years.
Part of that same question, maybe for you, Arquelle, and you also, Stu, but there are two pieces or questions that I hear from investors. Going back to number one, what gives you confidence in developing at that scale?
Yeah. What signals are you seeing from clients, conversations you're having?
Then the development deliverable. Yeah.
The ability to deliver on time and on budget. The pieces to that today that worry investors are, number 1, labor availability.
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