Data center provider Csquare raised $1.05 billion in its U.S. initial public offering (IPO), highlighting continued investor confidence in companies poised to benefit from the artificial intelligence boom. The Dallas-based firm sold 50 million shares at $21 each, below its marketed range of $23 to $27, giving the company a valuation of approximately $3.25 billion. The shares are scheduled to begin trading on the New York Stock Exchange under the ticker “CSQR” on July 16.
Founded in 2019, Csquare owns and operates 64 data center facilities across 21 metropolitan markets in North America and the United Kingdom, offering co-location and connectivity services to enterprises, cloud providers, and telecommunications companies. The growing demand for AI computing infrastructure has significantly increased investor interest in data center operators, driving expansion across the sector.
The company said the proceeds from the IPO will primarily be used to repay a portion of its outstanding debt and cover offering-related expenses. Following the listing, Brookfield will retain about 67% of Csquare’s voting power through entities it manages or controls. The IPO was led by Morgan Stanley and TD Securities, which served as representatives of the underwriting syndicate.
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