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Equinix Signs Multiple Advanced Nuclear Deals to Power Data Centers

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Equinix (EQIX.O), a leading data center developer and operator, announced on Thursday that it has entered into multiple advanced nuclear electricity deals, including power purchase agreements for fission energy and preorders for microreactors to support its operations.

The energy-intensive nature of data centers, especially with the growing adoption of technologies like generative artificial intelligence, has driven demand for large-scale electricity, raising concerns over power supply shortages. Equinix’s agreements aim to secure long-term electricity solutions rather than short-term fixes, according to Raouf Abdel, the company’s executive vice president of global operations.

In the U.S., Equinix plans to procure 500 megawatts of power from Oklo’s next-generation nuclear fission reactors and preordered 20 transportable microreactors from Radiant Nuclear. In Europe, the company has deals with ULC-Energy and Stellaria to eventually source power from next-generation nuclear developers. Equinix has also signed advanced fuel cell agreements with Bloom Energy, based in Silicon Valley.

These initiatives align with the U.S. Department of Energy’s pilot program for high-tech test nuclear reactors, which aims to have three projects operational within a year. The deals with advanced nuclear providers are expected to supply more than 1 gigawatt of electricity to Equinix’s data centers globally.

Google to Invest $9 Billion in AI and Cloud Infrastructure in Oklahoma

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Alphabet’s Google announced Wednesday that it will spend an additional $9 billion in Oklahoma over the next two years to expand its cloud and artificial intelligence (AI) infrastructure. The plan includes building a new data center campus in Stillwater and expanding the existing facility in Pryor, alongside education and workforce programs.

The investment comes amid intensifying competition among Big Tech companies, which are spending heavily on new data centers and skills development to meet surging AI demand. Part of the $9 billion is included in Google’s 2025 capital expenditure plan, with the remainder earmarked for future projects.

Last month, Alphabet raised its annual capital spending target to $85 billion from $75 billion and indicated more increases could follow next year. The company and its peers have justified large AI investments as necessary for growth and product improvement, particularly amid competition from Chinese tech firms and investor concerns over slower returns.

In addition, Google committed $1 billion last week to AI education and training for U.S. universities and nonprofit organizations. Over 100 universities have joined the initiative, including major public institutions such as Texas A&M and the University of North Carolina. Competitors like OpenAI, Anthropic, and Amazon have launched similar AI-focused education programs.

U.S. policy also supports onshoring of AI infrastructure, prompting investments by companies such as Micron, Nvidia, and CoreWeave. Apple similarly announced plans last week to invest $600 billion in the U.S. over the next four years.

CoreWeave Shares Fall Despite Strong AI Demand as Losses Mount

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Shares of CoreWeave, the Nvidia-backed AI infrastructure firm, dropped 11% after the company reported a larger-than-expected loss for Q2. Operating expenses surged nearly fourfold to $1.19 billion, highlighting tension between rapid revenue growth and rising financial strain.

Analysts expressed concern over CoreWeave’s heavy reliance on key customers, such as OpenAI, and questioned its ability to grow profitably given widening losses, high capital needs, and deteriorating debt coverage. The company, which went public in March, had about $8 billion in debt last year and planned to use roughly $1 billion of IPO proceeds for debt repayment.

With the IPO lock-up period expiring soon, analysts expect volatility as insiders can sell shares for the first time. CoreWeave operates 33 AI data centers in the U.S. and Europe, providing access to Nvidia GPUs. Despite losses, surging demand helped the firm beat quarterly revenue estimates, and its stock has nearly tripled since its IPO.