Data center provider Equinix ‘selling an AI pipe dream,' Hindenburg Research says in short report

Equinix, the $80 billion data center provider, has been targeted by Hindenburg Research. Hindenburg claimed that Equinix’s management misled shareholders with an ‘AI pipe dream’ and manipulated key metrics to enhance profitability. Hindenburg has taken a short position against Equinix, indicating a belief that the company’s shares will decline. As a result of the report, Equinix shares dropped by 7% in pre-market trading. Hindenburg has previously taken short positions against Nikola, Icahn Enterprises, and Gautam Adani’s conglomerate.