Equinix Inc. (Nasdaq: EQIX) is establishing a $525 million joint venture with GIC, Singapore’s sovereign wealth fund, to develop and operate two xScale data centers in Seoul, South Korea.
Announced on Thursday, the two parties are forming a limited liability partnership that is expected to be closed by the first quarter of 2022. GIC will hold a majority 80 percent stake in the joint venture, whereas Equinix will have control over the outstanding 20 percent.
Both the new facilities in South Korea, to be named SL2x and SL3x, will be xScale, which is the hyper-scale data center program of Equinix. They will produce more than 45 megawatts (MW) of power capacity together.
Increasing Demand for Data Centers
“More and more organizations are embracing a digital-first strategy to scale their operations, enhance the experiences of their customers, and unlock the value of technologies like 5G, IoT,
artificial intelligence (AI
Artificial Intelligence (AI)
Artificial Intelligence (AI) is a term coined by in 1956, which defines the automation of robotics to the actual process of robotics.The evolution of technology has since led to the gradual adoption of AI in several aspects of our lives. One of the most pertinent is its impact in the financial services industry, which provides a wide range of possibilities moving forward.Ways AI Can Transform FinanceAI has the potential to transform the financial services industry forever. This can take shape in many forms, the most obvious being risk assessment.One of the main benefits of AI is its ability to process wide swaths of data, which makes it ideal for financial bookkeeping and records.For example, as this information is data driven, scanning through these records gives AI the ability to make a recommendation of loan and credit offerings which make historical sense.Another area for AI to shine is fraud detection and management. It can analyze past spending behaviors on different transaction instruments to point out odd behavior or fraud.Machine learning also holds tremendous potential, which is defined as an application of AI that looks to automatically learn and improve from experience without being explicitly programmed. Machine learning is a rapidly growing field that also focuses on the development of computer programs that can access data and use it learn for themselves.Finally, AI can also assist humans in managing finance. Properly managing finances can be a challenging task on a personal or corporate level.From a small-scale investment to a large-scale investment, AI can establish itself as a watchdog for the future for managing finances.
Artificial Intelligence (AI) is a term coined by in 1956, which defines the automation of robotics to the actual process of robotics.The evolution of technology has since led to the gradual adoption of AI in several aspects of our lives. One of the most pertinent is its impact in the financial services industry, which provides a wide range of possibilities moving forward.Ways AI Can Transform FinanceAI has the potential to transform the financial services industry forever. This can take shape in many forms, the most obvious being risk assessment.One of the main benefits of AI is its ability to process wide swaths of data, which makes it ideal for financial bookkeeping and records.For example, as this information is data driven, scanning through these records gives AI the ability to make a recommendation of loan and credit offerings which make historical sense.Another area for AI to shine is fraud detection and management. It can analyze past spending behaviors on different transaction instruments to point out odd behavior or fraud.Machine learning also holds tremendous potential, which is defined as an application of AI that looks to automatically learn and improve from experience without being explicitly programmed. Machine learning is a rapidly growing field that also focuses on the development of computer programs that can access data and use it learn for themselves.Finally, AI can also assist humans in managing finance. Properly managing finances can be a challenging task on a personal or corporate level.From a small-scale investment to a large-scale investment, AI can establish itself as a watchdog for the future for managing finances.
Read this Term) and machine learning (ML). Korea and the broader Asia-Pacific market are both enablers and beneficiaries as organizations prioritize digital transformation,” said Charles Meyers, the President and CEO at Equinix.
With the two new data centers, the company’s xScale
data center
Data Center
A data center is a building or network used to house computer systems and associated components, such as telecommunications and storage systems.This generally includes redundant or backup power supplies, redundant data communications connections, environmental controls, and various security devices. Large data centers are industrial scale operations using as much electricity as a small town.Over the past decade, data center space has been growing at an incredible rate. This has increased as more and more businesses are moving toward cloud computing.In addition to the demand, the overall amount of data that is stored is also at levels that would have been unheard of not so long ago, which has resulted in increasingly large data centers.Why are Data Centers Important?Technology operations are a crucial aspect of most corporate businesses and institutions. The prime concerns are business continuity; companies rely on their information systems to run their operations. If a system becomes unavailable, company operations may be impaired or stopped altogether. It is necessary to have a dependable infrastructure for IT operations to minimize any chance of disruption. Information security is also a concern, and for this reason, a data center provides a secure environment that minimizes the chances of a security breach. A data center must, therefore, keep high standards for assuring the integrity and functionality of its hosted computer environment. Data centers are extremely valuable constructs within the financial services industry. For example, banks and financial institutions safeguard customer information in both cloud and on-premise data centers, as well as on trading floors and in branch operations. Data centers and critical infrastructure must be reliable, secure and available to successfully deliver internal IT services and digital banking services.
A data center is a building or network used to house computer systems and associated components, such as telecommunications and storage systems.This generally includes redundant or backup power supplies, redundant data communications connections, environmental controls, and various security devices. Large data centers are industrial scale operations using as much electricity as a small town.Over the past decade, data center space has been growing at an incredible rate. This has increased as more and more businesses are moving toward cloud computing.In addition to the demand, the overall amount of data that is stored is also at levels that would have been unheard of not so long ago, which has resulted in increasingly large data centers.Why are Data Centers Important?Technology operations are a crucial aspect of most corporate businesses and institutions. The prime concerns are business continuity; companies rely on their information systems to run their operations. If a system becomes unavailable, company operations may be impaired or stopped altogether. It is necessary to have a dependable infrastructure for IT operations to minimize any chance of disruption. Information security is also a concern, and for this reason, a data center provides a secure environment that minimizes the chances of a security breach. A data center must, therefore, keep high standards for assuring the integrity and functionality of its hosted computer environment. Data centers are extremely valuable constructs within the financial services industry. For example, banks and financial institutions safeguard customer information in both cloud and on-premise data centers, as well as on trading floors and in branch operations. Data centers and critical infrastructure must be reliable, secure and available to successfully deliver internal IT services and digital banking services.
Read this Term portfolio will grow to more than $8 billion across 36 facilities, with over 720 MW of power capacity.
Equinix first entered the Korean market in 2019 with the establishment of its International Business Exchange facility, SL1. Furthermore, the company is growing its footprint aggressively on a global scale and entered Africa last month with the acquisition of MainOne for $350 million.
“To address demand for cloud and digital infrastructure, we have continued to invest in the region through the expansion of International Business ExchangeTM (IBX®) capacity and locations, as well as the expansion of our hyperscale program, xScale, in Australia and now Korea.”
Equinix Inc. (Nasdaq: EQIX) is establishing a $525 million joint venture with GIC, Singapore’s sovereign wealth fund, to develop and operate two xScale data centers in Seoul, South Korea.
Announced on Thursday, the two parties are forming a limited liability partnership that is expected to be closed by the first quarter of 2022. GIC will hold a majority 80 percent stake in the joint venture, whereas Equinix will have control over the outstanding 20 percent.
Both the new facilities in South Korea, to be named SL2x and SL3x, will be xScale, which is the hyper-scale data center program of Equinix. They will produce more than 45 megawatts (MW) of power capacity together.
Increasing Demand for Data Centers
“More and more organizations are embracing a digital-first strategy to scale their operations, enhance the experiences of their customers, and unlock the value of technologies like 5G, IoT,
artificial intelligence (AI
Artificial Intelligence (AI)
Artificial Intelligence (AI) is a term coined by in 1956, which defines the automation of robotics to the actual process of robotics.The evolution of technology has since led to the gradual adoption of AI in several aspects of our lives. One of the most pertinent is its impact in the financial services industry, which provides a wide range of possibilities moving forward.Ways AI Can Transform FinanceAI has the potential to transform the financial services industry forever. This can take shape in many forms, the most obvious being risk assessment.One of the main benefits of AI is its ability to process wide swaths of data, which makes it ideal for financial bookkeeping and records.For example, as this information is data driven, scanning through these records gives AI the ability to make a recommendation of loan and credit offerings which make historical sense.Another area for AI to shine is fraud detection and management. It can analyze past spending behaviors on different transaction instruments to point out odd behavior or fraud.Machine learning also holds tremendous potential, which is defined as an application of AI that looks to automatically learn and improve from experience without being explicitly programmed. Machine learning is a rapidly growing field that also focuses on the development of computer programs that can access data and use it learn for themselves.Finally, AI can also assist humans in managing finance. Properly managing finances can be a challenging task on a personal or corporate level.From a small-scale investment to a large-scale investment, AI can establish itself as a watchdog for the future for managing finances.
Artificial Intelligence (AI) is a term coined by in 1956, which defines the automation of robotics to the actual process of robotics.The evolution of technology has since led to the gradual adoption of AI in several aspects of our lives. One of the most pertinent is its impact in the financial services industry, which provides a wide range of possibilities moving forward.Ways AI Can Transform FinanceAI has the potential to transform the financial services industry forever. This can take shape in many forms, the most obvious being risk assessment.One of the main benefits of AI is its ability to process wide swaths of data, which makes it ideal for financial bookkeeping and records.For example, as this information is data driven, scanning through these records gives AI the ability to make a recommendation of loan and credit offerings which make historical sense.Another area for AI to shine is fraud detection and management. It can analyze past spending behaviors on different transaction instruments to point out odd behavior or fraud.Machine learning also holds tremendous potential, which is defined as an application of AI that looks to automatically learn and improve from experience without being explicitly programmed. Machine learning is a rapidly growing field that also focuses on the development of computer programs that can access data and use it learn for themselves.Finally, AI can also assist humans in managing finance. Properly managing finances can be a challenging task on a personal or corporate level.From a small-scale investment to a large-scale investment, AI can establish itself as a watchdog for the future for managing finances.
Read this Term) and machine learning (ML). Korea and the broader Asia-Pacific market are both enablers and beneficiaries as organizations prioritize digital transformation,” said Charles Meyers, the President and CEO at Equinix.
With the two new data centers, the company’s xScale
data center
Data Center
A data center is a building or network used to house computer systems and associated components, such as telecommunications and storage systems.This generally includes redundant or backup power supplies, redundant data communications connections, environmental controls, and various security devices. Large data centers are industrial scale operations using as much electricity as a small town.Over the past decade, data center space has been growing at an incredible rate. This has increased as more and more businesses are moving toward cloud computing.In addition to the demand, the overall amount of data that is stored is also at levels that would have been unheard of not so long ago, which has resulted in increasingly large data centers.Why are Data Centers Important?Technology operations are a crucial aspect of most corporate businesses and institutions. The prime concerns are business continuity; companies rely on their information systems to run their operations. If a system becomes unavailable, company operations may be impaired or stopped altogether. It is necessary to have a dependable infrastructure for IT operations to minimize any chance of disruption. Information security is also a concern, and for this reason, a data center provides a secure environment that minimizes the chances of a security breach. A data center must, therefore, keep high standards for assuring the integrity and functionality of its hosted computer environment. Data centers are extremely valuable constructs within the financial services industry. For example, banks and financial institutions safeguard customer information in both cloud and on-premise data centers, as well as on trading floors and in branch operations. Data centers and critical infrastructure must be reliable, secure and available to successfully deliver internal IT services and digital banking services.
A data center is a building or network used to house computer systems and associated components, such as telecommunications and storage systems.This generally includes redundant or backup power supplies, redundant data communications connections, environmental controls, and various security devices. Large data centers are industrial scale operations using as much electricity as a small town.Over the past decade, data center space has been growing at an incredible rate. This has increased as more and more businesses are moving toward cloud computing.In addition to the demand, the overall amount of data that is stored is also at levels that would have been unheard of not so long ago, which has resulted in increasingly large data centers.Why are Data Centers Important?Technology operations are a crucial aspect of most corporate businesses and institutions. The prime concerns are business continuity; companies rely on their information systems to run their operations. If a system becomes unavailable, company operations may be impaired or stopped altogether. It is necessary to have a dependable infrastructure for IT operations to minimize any chance of disruption. Information security is also a concern, and for this reason, a data center provides a secure environment that minimizes the chances of a security breach. A data center must, therefore, keep high standards for assuring the integrity and functionality of its hosted computer environment. Data centers are extremely valuable constructs within the financial services industry. For example, banks and financial institutions safeguard customer information in both cloud and on-premise data centers, as well as on trading floors and in branch operations. Data centers and critical infrastructure must be reliable, secure and available to successfully deliver internal IT services and digital banking services.
Read this Term portfolio will grow to more than $8 billion across 36 facilities, with over 720 MW of power capacity.
Equinix first entered the Korean market in 2019 with the establishment of its International Business Exchange facility, SL1. Furthermore, the company is growing its footprint aggressively on a global scale and entered Africa last month with the acquisition of MainOne for $350 million.
“To address demand for cloud and digital infrastructure, we have continued to invest in the region through the expansion of International Business ExchangeTM (IBX®) capacity and locations, as well as the expansion of our hyperscale program, xScale, in Australia and now Korea.”
Source: https://www.financemagnates.com/fintech/news/equinix-gic-form-joint-venture-to-build-2-data-centers-in-south-korea/