Equinix has raised $15 billion in funding to expand its xScale data centers for AI, particularly for investments in the U.S.

The joint venture with a Canadian pension plan and GIC continues the data center REIT's push into hyperscale development through its xScale program.

Addressing increasing growth in artificial intelligence and the cloud, Equinix (NASDAQ:EQIX) said Tuesday it's formed a joint venture with GIC and Canada Pension Plan Investment Board to raise more than $15B in debt and equity in a bid to accelerate the Equinix xScale data center portfolio.

The CPP and GIC investment funds are backing a new JV that will build out Equinix xScale hyperscale data centers in the US.

Data center developer Equinix has formed a joint venture with GIC and the Canada Pension Plan Investment Board to raise over $15 billion.

Equinix announced the signing of a joint venture agreement, subject to closing conditions, in the form of a limited liability partnership with GIC and Canada Pension Plan Investment Board, with the intent to raise over US$15 billion in capital together with its partners.

Data center firm Equinix is forming a joint venture with Singapore's sovereign wealth fund GIC and Canada Pension Plan Investment Board with goals to raise more than $15 billion in capital, the company said on Tuesday.