Csquare, a US data center operator founded in 2019, raised US$1.05 billion in an initial public offering after selling 50 million shares at US$21 each.  Investors continued to show interest in AI-related infrastructure companies.

The offering priced below the marketed range of US$23 to US$27, giving Csquare a valuation of about US$3.25 billion. Morgan Stanley and Toronto-Dominion Bank were the lead underwriters.

The company will begin trading on the New York Stock Exchange under the ticker CSQR.

Brookfield, through affiliated entities, will hold about 67% of Csquare’s voting control after the IPO. Csquare said the proceeds will be used mainly to repay part of its debt.

The deal comes as AI infrastructure listings draw investor attention, with CoreWeave pricing at US$40 in its March 2025 IPO.

The report also said Switch, a US data center operator, is preparing for an IPO that could value the company at as much as US$80 billion.

🔗 Source: Cailianshe