Data center interconnection revenue is recurring revenue earned from connectivity services that link customers, networks, clouds, and other participants inside or through a data-center platform.
Equinix identifies interconnection as a major recurring revenue stream alongside colocation and managed infrastructure.
Interconnection monetizes ecosystem density
Equinix's interconnection offerings include services such as cross-connects and exchange ports.
The economic idea is different from simply renting another cabinet.
A customer may already occupy colocation space but buy additional connections as its network relationships expand.
That can deepen revenue per deployed customer without requiring the same amount of incremental physical space as another cabinet.
Interconnection revenue is recurring, but not rent
Equinix generally bills recurring services monthly over the contract term.
Interconnection therefore contributes to the recurring-revenue model, but it should not be treated as real-estate base rent.
It is a connectivity-service revenue stream enabled by the data-center ecosystem.
That distinction matters when comparing Equinix with operators whose disclosures emphasize leased megawatts and annualized base rent.
Network effects are not captured by cabinet utilization
Data Center Cabinet Utilization tells investors how much cabinet capacity is billed.
It does not tell them how densely those customers interconnect.
Two facilities with similar cabinet utilization can produce different interconnection economics if one has a richer concentration of networks, enterprises, cloud providers, and digital-service participants.
Revenue mix matters
Equinix reported $1.655 billion of interconnection revenue for 2025, compared with $6.475 billion of colocation revenue.
The absolute amount and growth of interconnection revenue help show how much of the platform is being monetized through connectivity rather than only through space and power.
The metric is still issuer-specific because other operators may classify or disclose connectivity services differently.
Primary-source examples
Data center interconnection revenue is most useful as a recurring network-service monetization measure, distinct from cabinet utilization and contractual rent.
Part of the Data Center Operating Model
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