Data centre firm Accelevation targets $5.4 billion valuation in US IPO
The company said on Tuesday it aims to raise about $720 million, joining a line of firms selling shares into investor demand for AI-related stocks.
Accelevation is targeting a valuation of up to $5.37 billion in its US initial public offering, the data centre infrastructure company said on Tuesday. Reuters reported the filing. The company and its backers are aiming to raise about $720 million, according to the Reuters account.
Reuters described the listing as part of a wave of firms tapping investor demand for AI-related stocks. This paper has not seen the prospectus, and the account rests on Reuters reporting alone. Accelevation has not published a price range in the material seen here.
The listing lands in the same week as another test of that demand. Nscale, a British AI data centre developer, is also preparing to go public and depends on Microsoft and Anthropic for most of its revenue, TechCrunch reported on Tuesday.
Neither account sets out Accelevation's revenue, its customers, or how much of its order book is under contract. Those figures would show whether the valuation rests on signed demand or on demand the company expects. Reuters gave no date for the listing.