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Equinix Malaysia Explores Alternative Energy Ahead of July Tariff Hike Amid Data Center Expansion

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Equinix Malaysia, the local arm of global data center operator Equinix, is evaluating alternative energy providers to mitigate the impact of a 14.2% electricity tariff increase set to take effect in July, the company said on Wednesday. The tariff hike is expected to significantly raise operational costs, especially for energy-intensive data center operations.

Cheam Tat Inn, managing director of Equinix Malaysia, stated during a media walkabout at the Cyberjaya data center—now completing its second phase—that the company is actively engaging with renewable energy providers, although specific sources and timelines have not been disclosed.

Equinix currently operates two facilities in Malaysia:

  • Cyberjaya with a capacity of 4.8 megawatts (MW)

  • Johor with 2.4 MW, which is fully subscribed following its launch in May 2023.

Cheam added that customer occupancy at the Cyberjaya site is rising rapidly, underscoring strong regional demand for digital infrastructure.

Malaysia is in the midst of a data center boom, with forecasts projecting a fourfold increase in facilities over the next decade from the current 18, collectively demanding over 800MW of electricity. The surge is largely driven by the growing demand for AI and cloud services, with tech giants such as Microsoft, Nvidia, Google, ByteDance, and Oracle investing billions in the country.

Equinix has also been aggressively expanding across Southeast Asia, acquiring three data centers in the Philippines last year and maintaining operations in Indonesia, Malaysia, and Singapore as it positions itself to tap into the region’s digital growth trajectory.

Nvidia-Backed CoreWeave Targets $32 Billion Valuation in AI-Focused IPO

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CoreWeave, a cloud services provider backed by Nvidia, is targeting a valuation of up to $32 billion in its upcoming initial public offering (IPO) in the United States. The company aims to capitalize on strong demand for generative artificial intelligence (AI), marking a crucial moment for the revival of the U.S. IPO market. This listing is also seen as a key gauge of investor appetite for new entrants in the AI sector, which has driven stock market gains in recent years.

CoreWeave plans to sell 49 million shares, priced between $47 and $55 each, aiming to raise as much as $2.7 billion. In addition to its IPO, the company has secured significant AI partnerships, including an $11.9 billion infrastructure deal with OpenAI, the creator of ChatGPT. As part of the IPO, CoreWeave will issue $350 million worth of shares to OpenAI in a private placement.

The company, which provides data center access and high-powered chips primarily from Nvidia, is aiming for a valuation of $26 billion to $32 billion, based on the IPO’s share pricing range. Nvidia, which currently owns 5.96% of CoreWeave’s Class A shares, will see its stake reduce to 5.05% post-offering.

CoreWeave’s IPO is considered a litmus test for the broader AI sector and the future of specialized data centers versus traditional cloud giants. If the IPO performs well, it could signal renewed confidence in IPOs, while a weak showing may raise concerns about investor appetite despite improving market conditions.

Oracle Explores Data Center Investment in Indonesia’s Batam Island

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Oracle Corp is in talks with the Indonesian government to establish a new cloud services center on Batam Island, according to Bloomberg News. The company is considering Nongsa Digital Park, a location that benefits from free trade zone status and its strategic proximity to Singapore and Malaysia. Oracle has ongoing cloud service initiatives in both countries, further fueling its interest in the region.

Earlier in October, Oracle revealed plans to invest over $6.5 billion to create its first public cloud region in Malaysia. Oracle’s expansion in Southeast Asia is part of a broader effort to grow its global infrastructure, which spans Asia from Japan to New Zealand and extends to India, as stated by Garrett Ilg, Oracle’s Executive Vice President for Japan and Asia Pacific.

The company’s cloud infrastructure in Singapore already includes two data centers, and Oracle operates 50 public cloud regions across 24 countries, underscoring its expanding global presence. As Oracle continues to broaden its reach, it is expected that Batam Island will play a key role in its ambitious regional strategy.

Oracle, Indonesia’s Investment Ministry, and Communication Ministry did not immediately respond to requests for comment.