Equinix, Inc. EQIX announced that it will expand Alibaba Cloud’s accessibility to customers in 17 metros globally through Platform Equinix.
Alibaba Cloud also called for the integration of its API with Equinix Cloud Exchange Fabric (ECX Fabric) to enable direct and seamless connection between enterprises from global markets and Alibaba Cloud on Platform Equinix.
Specifically, through a single portal, customer enterprises will be able to create and manage speedy private connections to the cloud on demand in any of the 45 ECX Fabric regions.
In these times of digital transformation, cloud has become essential for multinational enterprises that aim to modernize and mobilize their IT systems. To accelerate the modernization process, it is paramount to ensure that such enterprises can securely access multiple cloud service providers like Alibaba Cloud. Hence, the integration of its Alibaba‘s API with ECX Fabric is a strategic fit.
Notably, Alibaba Cloud will provide its IT infrastructure on Platform Equinix in nine American metros — Chicago, Dallas, Denver, Los Angeles, New York, Miami, Seattle, Silicon Valley and Washington DC.
It is also expanding its reach in the five Asia Pacific metros — Hong Kong, Jakarta, Singapore, Sydney and Tokyo as well as three EMEA markets — Dubai, Frankfurt and London.
Further, with the partnership, Alibaba Cloud can benefit from Platform Equinix’s robust interconnected ecosystem of more than 9,700 customers, consisting of 1,800 network providers, and more than 2,900 IT service and cloud providers worldwide. This will improve performance, latency and increase dependence for its customers.
Per Equinix management, direct access to cloud service providers via speedy and secure connections is driving enterprises to fully realize cloud benefits. Acknowledging this, the company aims to aid enterprises to accelerate their digital journeys. Hence, deepening its relationship with Alibaba Cloud is in line with this focus.
While a global presence helps the company to strengthen its competitive positioning, the ongoing coronavirus pandemic has resulted in volatility in foreign currency exchange rates, impacting Equinix’s revenue growth.
Moreover, shares of this Zacks Rank #3 (Hold) company have rallied 38.3% over the past year against the real estate market’s decline of 13.4%.
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City Office REIT, Inc.’s CIO funds from operations (FFO) per share estimate for the ongoing year have been unchanged at $1.11 over the past 30 days. The company currently carries a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Gladstone Land Corporation’s LAND FFO per share estimate for 2020 has been unchanged at 68 cents over the past month. It currently carries a Zacks Rank of 2.
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Note: Anything related to earnings presented in this write-up represent funds from operations (FFO) — a widely used metric to gauge the performance of REITs.
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