2/26/23 What I Read This Week
Weekly Edition of curated news about Digital Infrastructure
Weekly Edition of curated news about Digital Infrastructure:
DataBank is raising $715 million from the asset-backed securities (ABS) market to expand its data center footprint. DataBank is a rapidly growing colocation provider that has been expanding its reach. The company's portfolio of data centers has now grown to include more than 65 facilities across over 27 markets, providing customers with a broad range of options for their IT infrastructure needs.
Last week, DataBank investor Digital Bridge DBRG 0.00 announced Q4 earnings. I attended the call and was thoroughly impressed by the scale of the company's holdings and operations, its financial strategy and performance, and the strategic vision of CEO Marc Ganzi. For more information, see the Q4 earnings release.
It was a busy week for Digital Infrastructure company earnings:
Equinix EQIX 0.00 EPS of $1.39 misses by $0.33, Revenue of $1.87B (9.64% YoY) beats by $5.90M
Digital Realty DLR 0.00 EPS of -$0.02 misses by $0.28, Revenue of $1.23B (10.97% YoY) beats by $21.15M
Iron Mountain IRM 0.00 EPS of $0.43 misses by $0.01, Revenue of $1.28B (10.30% YoY) misses by $36.40M
American Tower AMT 0.00 EPS of -$1.47 misses by $2.52, Revenue of $2.71B (10.62% YoY) beats by $24.23M
Crown Castle CCI 0.00 EPS of $0.95 misses by $0.03, Revenue of $1.76B (6.65% YoY) beats by $19.85M
Rackspace RXT 0.00 Revenue of $787 million, up 1% YoY; 2022 Revenue of $3,122 million, up 4% YoY
NVIDIA NVDA 0.00 Quarterly and annual return to shareholders of $1.15 billion and $10.44 billion, respectively. The Next Platform has a writeup of the results, plus an interesting angle into the “Nvidia DGX Cloud, which the company thinks will position it to help democratize generative AI capabilities for all organizations around the world, not just the hyperscale and cloud elite.”
Arista Networks ANET 0.00 also posted Q4 and year end results. EPS of $1.41 beats by $0.20, and Revenue of $1.28B (54.71% YoY) beats by $74.53M. The Next Platform has a nice article on the results and how Meta spent over $1B on Arista networking in 2022.
**Terran Orbital wins $2.4B contract to build satellites for Rivada Space Networks**. 288 satellites will be manufactured and deployed at Terran’s LLAP 0.00 Tyvak subsidiary based in Irvine, California. It will also build 12 spare satellites and develop portions of the ground support for the constellation. I have definitely put Rivada Space Networks on my ones to watch list; cool stuff.
With existing investors participating as well, Quantum Computing company Quantum Motion announced it has raised an oversubscribed ￡42 million round led by Bosch Ventures, and joined by Porsche Automobil Holding SE and British Patient Capital.
Bonus item: Here are two of my favorite satellite maps:
Oh yeah - and one bonus industry-adjacent company link, for Privateer. Insanely cool company (partially because of one of the co-founders being a tech legend/icon/genius) with the mission of helping humanity treat the space environment as if our lives depend on it. They are creating the data infrastructure that will enable sustainable growth for the new space economy.
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