Elliott Investment Management Boosts Stake in Equinix, Pushes for Share Price Boost

Elliott Investment Management has built up a large stake in Equinix, a data center operator, and is pushing for steps to boost the company's share price. The activist firm has been increasing its position since Equinix's shares fell 16% this year. Elliott may advocate for margin improvements, a buyback, or adjustments to the company's capital expenditure plan.

Elliott Investment Management has significantly increased its stake in Equinix Inc., a leading data center operator, and is advocating for measures to bolster the company's share price. According to sources with knowledge of the matter, Elliott now holds a substantial investment in Equinix, positioning itself among the company's top 10 investors [1].

Equinix's shares have declined by more than 16% this year, falling to a market value of approximately $76 billion. The stock experienced its most significant one-day drop since March 2020 following an analyst day where the company disclosed higher-than-expected capital expenditures. Elliott's stake in Equinix, as disclosed in filings, amounts to 150,000 shares, or about 0.2% of the company. The activist firm has been building its position in Equinix since the analyst day, according to the sources [1].

Elliott may advocate for additional margin improvements, a potential buyback, or adjustments to Equinix's recently announced capital expenditure plan. Engagement between Elliott and Equinix is collaborative so far. A representative for Elliott declined to comment, while a spokesperson for Equinix could not immediately be reached for comment [1].

The adoption of artificial intelligence has driven demand for data center space, with major players like Amazon Web Services and Google Cloud Platform competing for real estate. However, Equinix and peers such as Prologis Inc. and Digital Realty Trust Inc. have faced higher project financing costs due to elevated interest rates [1].

The most prolific activist investor on Wall Street, Elliott has targeted large technology companies including Salesforce Inc., Texas Instruments Inc., and SAP SE. Last week, Hewlett Packard Enterprise Co. agreed to add Elliott nominee Robert Calderoni as a board director and chair of its strategy committee [1].

Elsewhere, Elliott owns UK-based Ark Data Centres through its private equity arm, while senior portfolio manager Jason Genrich sits on the board of another REIT, Crown Castle Inc. [1].

References:
[1] https://www.bloomberg.com/news/articles/2025-07-21/activist-elliott-boosts-stake-in-data-center-reit-equinix