Equinix, Inc. (NASDAQ:EQIX) stock rose 0.14% (As on October 10, 11:25:05 AM UTC-4, Source: Google Finance) after Oppenheimer upgraded the data-center company’s stock to Outperform from Perform and has a $750 target price. To support increasing demand for the digital services essential to powering today’s businesses, EQIX, the world’s digital infrastructure company, has announced its expansion to Indonesia with plans for an approximately $74 million International Business Exchange (IBX^®) data center in the heart of Jakarta. Through this expansion, Equinix will enable Indonesian businesses, as well as multinationals with a presence in Indonesia, to leverage its trusted platform to bring together and interconnect the foundational infrastructure to power their businesses. Driven by rapid business digitalization and a substantial digital-savvy population, Indonesia has emerged as Southeast Asia’s largest digital economy in value, and is expected to be a key hub of interconnection in the region. With major cloud service providers, such as Google Cloud, Amazon Web Services (AWS), Microsoft Azure and Alibaba Cloud, launching cloud regions in Indonesia, the country is forecast to become the second largest public cloud market in Southeast Asia. These trends collectively raise the need for increased digital services and data center services capacity in Indonesia.

Meanwhile, In May, Equinix closed the acquisition of four data centers from Empresa Nacional De Telecomunicaciones S.A. (“Entel”), a leading Chilean telecommunications provider (the “Entel Chile Acquisition”), extending Platform Equinix into Chile and bringing its global footprint to 70 metros across 31 countries. Equinix expects to close on the acquisition of one additional data center from Entel to enter Lima, Peru, in Q3. Equinix continued to strengthen its leadership position in the cloud ecosystem through the company’s xScale program, which experienced strong leasing activity from top hyperscalers in Q2. The xScale portfolio has now leased more than 170 megawatts globally, with 11 xScale builds currently under development, of which more than 80% is pre-leased.

Further, 49 major projects are currently underway across 34 metros in 21 countries, including new data center builds in Dublin, Montréal, New York, Paris, Warsaw and the company’s first build in Chennai, India.