Blackstone Digital Infrastructure Trust opened flat on the New York Stock Exchange Thursday, after the investment vehicle raised $1.75 billion in its U.S. IPO. Shares debuted at $20, matching the IPO price after selling 87.5 million shares.
The listing is part of a busy week for AI-linked IPOs, with three billion-dollar offerings including chip firm Cerebras and Fervo Energy-the most in a single week since 2021, according to Renaissance Capital.
The Blackstone vehicle will primarily invest in newly built data centers leased to investment-grade hyperscale tenants. The firm has identified $25 billion in near-term opportunities across key markets including Northern Virginia, Ohio, Phoenix, Maryland, and Austin.