Elliott Is Said to Boost Stake in Data Center REIT Equinix (1)

Elliott Investment Management has built up its stake in Equinix Inc. and is pushing the data center operator to take steps to boost its share price, people with knowledge of the matter said.

The activist firm now has a large investment in Equinix that makes it one of the Redwood City, California-based company’s top 10 investors, the people said, asking not to be identified discussing private information.

Equinix’s shares have fallen more than 16% this year, giving it a market value of about $76 billion. The stock suffered its worst one-day drop since March 2020 last month, after an analyst ...