Key insights
- Blackstone is planning a $2 billion IPO for a data center acquisition firm, capitalizing on the AI boom. Goldman Sachs is leading the offering, with Citigroup and Morgan Stanley also involved. This signals continued strong investor interest in the data center sector, driven by AI demand, and could positively influence related US equity valuations.
Investing.com -- Blackstone Inc. is considering an initial public offering that could raise $2 billion for an acquisition company focused on purchasing data centers, according to a report from Bloomberg, citing people familiar with the matter.
Goldman Sachs Group Inc. (NYSE:GS) is leading the offering, which could begin formal marketing as soon as this month, the people said. Citigroup Inc. (NYSE:C) and Morgan Stanley (NYSE:MS) are among the banks leading the deal, one person said.
The alternative investment firm has sounded out investors for a vehicle that would give shareholders a chance to bet on the artificial intelligence boom. Blackstone filed paperwork confidentially with US regulators earlier this year, the people said.
Blackstone had approached sovereign wealth funds and other institutions for the first checks, aiming to eventually raise tens of billions of dollars from a broader group of investors, Bloomberg previously reported.
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