Updates

** Shares of Blackstone Digital Infrastructure Trust BXDC.N, which will acquire newly built data centers, fall as much as 2% in New York debut

** Stock opened flat at $20; last down at $19.72

** The newly minted Blackstone vehicle sold 87.5 million shares in IPO at $20 apiece to raise $1.75 billion

** BXDC plans to target data centers worth $250 ⁠million to $1.5 billion leased to investment-grade hyperscale tenants in markets such ​as Northern Virginia, Ohio, Phoenix, Maryland and Austin

** It has identified and reviewed ​roughly $25 billion in near-term opportunities in established data markets

** "With exposure to AI infrastructure and real estate cash flows, BXDC brings together two major themes investors are currently drawn to. Its aim to acquire income-generating data centers leased to investment-grade tenants on long-term contracts adds a degree of stability that contrasts with the more speculative side of AI" - IPOX Research Associate Lukas Muehlbauer