AI Demand Drives Revenue and Dividends Up.. Data Center REITs Project Double-Digit Growth by 2026

Equinix Inc. (EQIX) reported fourth-quarter and full-year 2025 revenues of approximately $9.2 billion (KRW 12 trillion), a 5% increase year-over-year. Operating income rose 39%, net income attributable to common shareholders climbed 66%, and adjusted EBITDA grew 11%. Quarterly monthly recurring revenue also increased by 10%. The company raised its quarterly dividend by 10% to $5.16 per share and provided 2026 guidance calling for 10–11% revenue growth, an EBITDA margin of about 51%, and 11–13% growth in adjusted FFO, alongside roughly $2 billion (KRW 2.6 trillion) in cash dividends, substantial capital expenditures, and expansion of its xScale joint ventures. Meanwhile, CFO Keith D. Taylor disclosed that, under a pre-planned 10b5-1 trading program on February 12, he sold 2,000 shares at about $956 each, realizing approximately $1.9 million (KRW 2.5 billion), and still holds equity valued at about $23 million (KRW 3 billion).

Following this earnings release and the updated 2026 outlook, Equinix has emerged as a key beneficiary of expanding AI inference demand, with expectations that annual revenue will exceed $10 billion (KRW 13 trillion) for the first time. Its stock jumped roughly 10% in mid-February on the NYSE, approaching all-time highs. On February 13, Morgan Stanley maintained an Overweight rating and raised its price target from $950 to $1,075, and other major brokerages have similarly revised targets upward to reflect the company’s growth trajectory and margin improvements. ()

Equinix Inc. (EQIX) is a global digital infrastructure provider offering data centers and interconnection services in key metropolitan markets. Its strengths lie in colocation and network hubs that bring together cloud, telecommunications, and enterprise customers. As AI computing and hybrid cloud adoption surge, demand for facilities with large-scale power, cooling, and connectivity is growing, leading global data-center REITs and operators to pursue aggressive capacity expansions and joint ventures such as xScale.