Verizon Partners with Google on $1 Billion Data Center Deal

Verizon has reportedly signed a $1 billion agreement with Google to build a data center. This move marks a significant strategic reversal for Verizon, which sold off its entire data center portfolio to Equinix for $3.6 billion in 2017.

The deal would be a natural extension of the partnership between Verizon and Google, which announced a 5G edge computing infrastructure partnership in December 2021. This collaboration aims to bring Google Cloud's computing capabilities closer to Verizon's network edge.

Notably, this partnership appears to focus on traditional enterprise and AI hosting, rather than Web3 or cryptocurrency-related initiatives. Companies like Core Scientific have pivoted from data center operations to crypto mining and back, while Marathon Digital and Riot Platforms have expanded their footprints for Bitcoin mining.