Accelevation, an AI infrastructure provider based in Miamisburg, Ohio, said on September 22 it was targeting a valuation of up to US$5.37 billion in a US initial public offering.

The company and some selling shareholders aim to raise up to US$720 million by offering 30 million shares, as it joins a wave of companies tapping investor demand for AI-related stocks.

The shares are expected to be priced at $20 to $24 each. Accelevation plans to list on Nasdaq under the symbol “ACCV.”

Morgan Stanley, JP Morgan, Goldman Sachs, and BofA Securities are among the underwriters.

🔗 Source: Reuters