CoreSite Launches First Oracle FastConnect 50G Multicloud Networking Capability in Three Data Center Markets

Rhea-AI Summary

CoreSite, a subsidiary of American Tower (NYSE: AMT), has launched the first Oracle FastConnect 50G multicloud networking capability in three data center markets. This new service on CoreSite's Open Cloud Exchange® (OCX) offers ultra-low-bandwidth connectivity of up to 50 gigabits per second (Gbps) through Oracle Cloud Infrastructure (OCI) FastConnect.

Available in Los Angeles, Chicago, and Northern Virginia data centers, this advancement enables customers to leverage OCI locally, supporting AI and data-intensive applications. The enhanced OCX capabilities allow businesses to provision on-demand, secure bandwidth to OCI with virtual connections up to 50 Gbps, facilitating rapid workload migration between multiple public clouds.

CoreSite's data center campuses in these markets are certified as part of the NVIDIA DGX-Ready Data Center Program, offering network-dense, cloud-connected facilities that enable IT modernization while reducing operational costs.

Positive

• First to launch Oracle FastConnect 50G multicloud networking capability in three data center markets
• Offers ultra-low-bandwidth connectivity of up to 50 Gbps through Oracle Cloud Infrastructure FastConnect
• Enables customers to leverage OCI locally for AI and data-intensive applications
• Facilitates rapid workload migration between multiple public clouds
• Data center campuses certified as part of NVIDIA DGX-Ready Data Center Program

Negative

• None.

Insights

Tech Expert

CoreSite's launch of Oracle FastConnect 50G multicloud networking capability is a significant advancement in cloud connectivity. This offering provides up to 50 Gbps bandwidth, which is important for AI and data-intensive applications. The high-speed connections in Los Angeles, Chicago and Northern Virginia data centers enable:

• Faster workload migration between multiple clouds
• Enhanced support for AI and large dataset transfers
• Improved flexibility with on-demand, secure bandwidth provisioning

This development aligns with the growing demand for hybrid and multicloud solutions. It's particularly valuable for enterprises dealing with regulatory compliance while leveraging cloud benefits. The partnership with Oracle and NVIDIA certification further strengthens CoreSite's position in the competitive data center market.

While this is a positive development for CoreSite and its parent company American Tower, the direct financial impact may be gradual. It's likely to attract more enterprise customers and potentially increase revenue over time, but immediate effects on American Tower's stock may be

Market Research Analyst

This announcement positions CoreSite and by extension American Tower, at the forefront of cloud connectivity innovation. The market for high-bandwidth, low-latency connections is expanding rapidly, driven by:

• Increasing adoption of AI and machine learning
• Growth in data-intensive applications
• Rising demand for hybrid and multicloud architectures

CoreSite's early mover advantage with the 50 Gbps Oracle FastConnect capability could attract high-value enterprise customers, potentially leading to increased market share and revenue growth. The strategic locations of the data centers in major markets further enhance the offering's appeal.

However, it's important to note that while this development strengthens CoreSite's competitive position, its impact on American Tower's overall financial performance may be modest in the short term. The data center business, while growing, still represents a smaller portion of American Tower's revenue compared to its core tower business. Investors should view this as a long-term strategic move rather than an immediate game-changer for the stock.

New Oracle Service on CoreSite’s Open Cloud Exchange^® Offers Ultra-Low-Bandwidth Connectivity to Customers with Applications Requiring Large-Scale Datasets

DENVER--(BUSINESS WIRE)-- CoreSite, a leading hybrid IT solutions provider and subsidiary of American Tower Corporation (NYSE: AMT) (“American Tower”) and a member of Oracle PartnerNetwork (OPN), today announced the company is the first to launch new accelerated connections of up to 50 gigabits per second (Gbps) through Oracle Cloud Infrastructure (OCI) FastConnect on the Open Cloud Exchange^® (OCX), CoreSite’s software-defined networking platform. Now available in CoreSite’s Los Angeles, Chicago, and Northern Virginia data center markets, this advancement enables customers to leverage OCI locally, utilizing services such as Oracle Autonomous Database to foster innovation and propel business growth.

These enhanced OCX capabilities enable businesses to achieve greater flexibility to provision on-demand, secure bandwidth to OCI with virtual connections of up to 50 Gbps. The connectivity of FastConnect with the OCX also empowers customers deploying artificial intelligence (AI) and data-intensive applications with the capability to securely and swiftly transfer large datasets from their network edge to use with AI services and applications operating on OCI. Leveraging the accelerated connection through the OCX makes it easier to more rapidly migrate workloads between multiple public clouds.

“As the first to market with Oracle’s new FastConnect 50G capabilities in three CoreSite data center markets, we are providing customers with the bandwidth connectivity they need to support their AI and other data-intensive applications,” said Brouk Eshetu, Vice President of General Management at CoreSite. “The value of this launch lies in empowering customers to securely migrate workloads between multiple cloud environments.”

Customers using OCI benefit from best-in-class security, consistent high performance, and straightforward pricing, along with the tools and expertise needed to move enterprise workloads to the cloud efficiently. Additionally, OCI’s distributed cloud offers public cloud, multicloud, hybrid cloud, and dedicated cloud solutions, enabling customers to take full advantage of cloud computing while maintaining control over data residency, locality and compliance across various cloud environments. This capability allows customers to swiftly and efficiently migrate enterprise workloads to the cloud while addressing stringent regulatory compliance standards.

CoreSite’s Los Angeles, Chicago and Northern Virginia data center campuses also offer facilities that are certified as part of the NVIDIA DGX-Ready Data Center Program. The LA market is composed of three facilities, including LA1 (One Wilshire^®), and is home to one of the largest digital ecosystems in the world. The network-dense, cloud-connected data centers in downtown Chicago, composed of two facilities, enable accelerating IT modernization while reducing total cost of operation. With three highly interconnected data centers in its Northern Virginia campus, CoreSite is one of only two providers in the market to offer direct connections to all the major cloud providers, including Oracle.

Additional Resources

• Learn more about Oracle FastConnect
• Watch What is the Open Cloud Exchange and How Can It Simplify and Automate Your Cloud Connectivity?
• Download The 2024 State of the Data Center Report to see industry trends and insights from IT leaders

About CoreSite

CoreSite, an American Tower company (NYSE: AMT), provides hybrid IT solutions that empower enterprises, cloud, network and IT service providers to monetize and future-proof their digital business. Our highly interconnected data center campuses offer a native digital supply chain featuring direct cloud onramps to enable our customers to build customized hybrid IT infrastructure and accelerate digital transformation. For more than 20 years, CoreSite’s team of technical experts has partnered with customers to optimize operations, elevate customer experience, dynamically scale, and leverage data to gain competitive edge. For more information, visit CoreSite.com and follow us on LinkedIn and X.

About Oracle PartnerNetwork

Oracle PartnerNetwork (OPN) is Oracle’s partner program designed to enable partners to accelerate the transition to cloud and drive superior customer business outcomes. The OPN program allows partners to engage with Oracle through track(s) aligned to how they go to market: Cloud Build for partners that provide products or services built on or integrated with Oracle Cloud; Cloud Sell for partners that resell Oracle Cloud technology; Cloud Service for partners that implement, deploy and manage Oracle Cloud Services; Industry Healthcare for partners that provide commercially available products and/or services built with Oracle Cloud and Oracle Health technologies; and License & Hardware for partners that build, service or sell Oracle software licenses or hardware products. Customers can expedite their business objectives with OPN partners who have achieved Expertise in a product family or cloud service. To learn more visit: http://www.oracle.com/partnernetwork

Trademark

Oracle, Java, MySQL and NetSuite are registered trademarks of Oracle Corporation. NetSuite was the first cloud company—ushering in the new era of cloud computing.

Forward-Looking Statements

This press release contains statements about future events and expectations, or “forward-looking statements,” all of which are inherently uncertain. We have based those forward-looking statements on management’s current expectations and assumptions and not on historical facts. These forward-looking statements involve a number of risks and uncertainties. For important factors that may cause actual results to differ materially from those indicated in our forward-looking statements, we refer you to the information set forth under the caption “Risk Factors” in Item 1A of American Tower’s most recent annual report on Form 10-K, and other risks described in documents American Tower subsequently files from time to time with the Securities and Exchange Commission. Neither we nor American Tower undertake any obligation to update the information contained in this press release to reflect subsequently occurring events or circumstances.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241008621106/en/

MEDIA CONTACT

Megan Ruszkowski

Vice President of Marketing and Sales Development

720-446-2014

Megan.Ruszkowski@CoreSite.com

Source: CoreSite

FAQ

What new service has CoreSite (AMT) launched in three data center markets?

CoreSite has launched the first Oracle FastConnect 50G multicloud networking capability in its Los Angeles, Chicago, and Northern Virginia data center markets.

What is the maximum bandwidth offered by CoreSite's (AMT) new Oracle FastConnect service?

The new Oracle FastConnect service on CoreSite's Open Cloud Exchange offers ultra-low-bandwidth connectivity of up to 50 gigabits per second (Gbps).

How does CoreSite's (AMT) new service benefit customers with AI and data-intensive applications?

The enhanced OCX capabilities enable customers to securely and swiftly transfer large datasets from their network edge to use with AI services and applications operating on Oracle Cloud Infrastructure.

Which certification do CoreSite's (AMT) data center campuses have in the mentioned markets?

CoreSite's data center campuses in Los Angeles, Chicago, and Northern Virginia are certified as part of the NVIDIA DGX-Ready Data Center Program.