Data Center IPO Wave Accelerates as Nearly a Dozen Firms Seek Public Markets

IndustryM&A · Partnership Impact 4
โดย Bisnow·GLOBAL·Read original
Summary · why it matters

Nearly a dozen data center companies have gone public, filed for an IPO or been reported to be exploring one over the past year, with the pace accelerating over the past three months. Recent listings include Blackstone Digital Infrastructure Trust, Brookfield-backed colocation provider Csquare and Texas startup Fermi, while Switch and Singapore-based DayOne have confidentially filed, SoftBank-backed SB Energy has publicly filed and AI data center specialist Nscale is reportedly preparing a listing. Major digital infrastructure players Vantage Data Centers, CyrusOne, Blue Owl, DataBank and EdgeCore are all reportedly at least exploring IPOs, a reversal from 2021 and 2022 when take-private deals including Blackstone's $10B acquisition of QTS left just two listed data center firms. Industry leaders say no single force is driving the shift, attributing it instead to the trillions of dollars required for AI infrastructure and a growing diversity of public equity strategies. Blue Owl is reportedly planning a REIT seeded with around $6.5B of its own stabilized data center assets, while SB Energy is reportedly seeking a valuation of more than $50B despite still developing its first campus.

Impact on stocks 5

Financials▲ · 2 stocks
Blue Owl Capital Inc
OWL
▲ PositiveCapitalrelevance

Blue Owl is reportedly planning a REIT seeded with around $6.5B of its own stabilized data center assets.

Brookfield Asset Management Ltd.
BAM
± MixedCapitalrelevance

Brookfield-backed colocation provider Csquare is going public, a passing mention of Brookfield as backer rather than a direct Brookfield event.

Cloud & Digital Infrastructure▲ · 1 stocks
Csquare, Inc.
CSQR
▲ PositiveCapitalrelevance

Csquare is named as a recently listed Brookfield-backed colocation provider, a positive IPO/capital event.

Artificial Intelligence▲ · 1 stocks
Fermi Inc.
FRMI
▲ PositiveCapitalrelevance

Texas startup Fermi is cited among recent data center listings, a positive capital-markets development for the company.

Real Estate▲ · 1 stocks

Theme Impact 3

Off-coverage companies 9

DayOnePrivate± Mixed
Capitalrelevance

Singapore-based DayOne has confidentially filed for an IPO, a capital-markets event with no stated valuation or outcome.

NscalePrivate▲ Positive
Capitalrelevance

AI data center specialist Nscale is reportedly preparing a listing, a positive capital-markets development.

SB EnergyPrivate± Mixed
Capitalrelevance

SB Energy publicly filed for an IPO and is reportedly seeking a valuation above $50B while still developing its first campus.

SwitchPrivate± Mixed
Capitalrelevance

Switch has confidentially filed for an IPO, a capital-markets event, but no pricing or outcome is given.

DataBankPrivate± Mixed
Capitalrelevance

DataBank is reportedly at least exploring an IPO, an early-stage capital-markets move with no confirmed terms.

EdgeCorePrivate± Mixed
Capitalrelevance

EdgeCore is reportedly at least exploring an IPO, an early-stage capital-markets move with no confirmed terms.

Vantage Data CentersPrivate± Mixed
Capitalrelevance

Vantage Data Centers is reportedly at least exploring an IPO, an early-stage capital-markets move with no confirmed terms.

Csquare Inc.Private± Mixed
relevance

QTS Data CentersPrivate± Mixed
relevance

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