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Nasdaq-listed digital infrastructure firm Equinix. Inc and Indonesian conglomerate PT Astra International Tbk have set up a joint venture to help local businesses and multinationals capitalize on emerging technologies, such as artificial intelligence and 5G.
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Fast facts
- The joint venture company between Equinix and Astra has a 75% and 25% equity stake, respectively, Equinix said in a press release on Tuesday. It will initially develop and operate an International Business Exchange data center in Jakarta, with plans for further expansion.
- In Asia-Pacific, Equinix said it has 51 data centers in Australia, China, Hong Kong, India, Japan, Korea, and Singapore.
- Equinix was down 0.13% on the Nasdaq at 9.55 a.m. ET on Tuesday. Astra closed the trading day up 1.67% on the Indonesian Stock Exchange.
- Indonesia has been ramping up its digital transformation efforts, recently publishing its central bank digital currency whitepaper. The Indonesian government reportedly said late last year that it hopes the nation’s 30 million micro, small and medium enterprises would gradually adopt digital transformation.
- Indonesia’s low internet connectivity and power infrastructure are still a cause of concern for digital adoption.
See related article: Indonesia to set up crypto stock exchange this year: report
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