Blackstone data center vehicle opens flat in New York debut after $1.75 billion IPO

(Adds details throughout)

- Shares of Blackstone Digital Infrastructure Trust 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 and Fervo ​Energy , 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.