How does Equinix print versus CoreWeave?

How Equinix and CoreWeave print

Colocation rent. Interconnection on top. Recurring, contractual.

GPU hours. Reserved clusters. The customer is a lab or a cloud that ran out.

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Equinix

CoreWeave

A public REIT that sells space, power, and the cross-connect.

Pays: Networks, clouds, enterprises who need to be in the building.

Builds: Facilities, network, and the people who sell the cage.

A neo-cloud. Power and the rack are the product.

Pays: AI labs, funds, and anyone who cannot wait on a hyperscaler.

Builds: Infra, facilities, and the people who keep the GPUs billed.