Data-center infrastructure provider Accelevation is seeking a valuation of as much as $5.37 billion in its planned U.S. initial public offering, providing another test of investor demand for businesses supporting the global artificial-intelligence infrastructure buildout.
The Ohio-based company and existing shareholders plan to offer 30 million shares priced between $20 and $24, potentially raising as much as $720 million. Accelevation plans to list on Nasdaq under the ticker ACCV.
Accelevation designs and manufactures infrastructure used in data centers, including power-distribution, cooling and modular systems. Demand for those products has increased alongside heavy investment in computing capacity required for artificial-intelligence workloads.
Morgan Stanley, JPMorgan, Goldman Sachs and Bank of America are among the underwriters for the offering.
The IPO arrives as investors increasingly distinguish between different parts of the AI investment chain. Rather than selling AI models or semiconductor processors directly, Accelevation supplies physical infrastructure needed to operate increasingly power-intensive data centers.
Investor reception to the offering will therefore provide another indication of how much public-market demand remains for companies positioned around AI infrastructure spending.
