UPDATE 1-Blackstone data center vehicle opens flat in New York debut after $1.75 billion IPO
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Blackstone Digital Infrastructure Trust, Inc. BXDC | 0.00 |
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May 14 (Reuters) - Shares of Blackstone Digital Infrastructure Trust BXDC.N opened flat in their New York Stock Exchange debut on Thursday, after the newly minted investment vehicle raised $1.75 billion in its U.S. initial public offering.
The New York-based company's stock opened at $20 per share. It had sold 87.5 million shares in its IPO at $20 apiece.
Artificial intelligence-linked companies have taken center stage in the U.S. IPO market this week with three billion-dollar offerings, including chip firm Cerebras CBRS and Fervo Energy FRVO.O, the most on a weekly basis since 2021, according to Renaissance Capital, which provides IPO-focused research and ETFs.
The Blackstone vehicle will invest primarily in newly constructed data center assets leased to investment-grade hyperscale tenants. It has identified $25 billion in near-term opportunities in top markets such as Northern Virginia, Ohio, Phoenix, Maryland and Austin, the company said earlier.
