Equinix Taps Zenlayer as 2025 Global Partner of the Year, Expanding Distributed AI Infrastructure

What happened

Zenlayer has been named Equinix's 2025 Global Partner of the Year, with the two companies expanding their collaboration to support distributed AI infrastructure worldwide, per a June 9 Business Wire release. The award and expanded partnership reinforce Equinix's positioning as a key enabler of AI workloads, consistent with the DeepValue report's theme that AI-driven bookings are a central narrative driver. However, the report's core thesis remains that the investment case hinges on converting record 2025 bookings into 2026 MRR growth of 8-10% while navigating power constraints and permitting delays. This partnership adds a positive data point for ecosystem stickiness and AI demand, but does not alter the execution-dependent 6-12 month wait stance.

Implication

The expanded partnership supports the base case that Equinix's interconnection ecosystem and AI infrastructure demand remain robust. If power/permitting constraints do not materially delay revenue conversion, this news reinforces the path to 8-10% MRR growth and the bull case.

Thesis delta

No material delta; the event aligns with the existing narrative of AI-driven demand and ecosystem strength. The core thesis—that Equinix must convert bookings to commencements without execution slip—remains unchanged.