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

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.

Canada Pension Plan Investment Board is forming a joint venture that aims to raise US$15-billion to buy land and build new data centres catering to the largest technology companies in the United States, in partnership with Singaporean sovereign wealth fund GIC and data centre owner Equinix Inc.

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.