Csquare IPO raises $1.05 billion as investors bet on AI boom (updated)

Brookfield

16/07/2026 24:33

Updates headline, details and paragraphs 1-2 with company statement
July 16 (Reuters) - Data center provider Csquare CSQR.N said on Thursday it raised $1.05 billion in its U.S. initial public offering as investors continued to back companies expected to benefit from the artificial intelligence boom.
The Dallas-based company sold 50 million shares at $21 apiece, below its marketed range of $23 to $27, valuing it at about $3.25 billion. 
A rebound in IPO activity has boosted market sentiment, prompting companies to accelerate listings while the issuance window remains open despite geopolitical uncertainty.
Growing demand for AI computing infrastructure has boosted investor interest in data center operators, which are expanding capacity to meet demand for AI workloads.
Founded in 2019, Csquare owns and operates 64 data center sites across 21 metropolitan markets in North America and the UK, providing co-location and connectivity services to enterprises, cloud providers and telecommunications companies, according to its IPO filing.
Proceeds from the offering will be used to repay a portion of its outstanding indebtedness and pay fees and expenses in connection with the offering, the company said.
The shares are expected to begin trading on the New York Stock Exchange under the ticker symbol "CSQR" on July 16.
     After the offering, Brookfield BN.TO ​will ⁠control about 67% of Csquare's voting power through entities it manages or controls.
Csquare's initial public offering is being made through a syndicate of underwriters with Morgan Stanley MS.N and TD Securities serving as representatives of the underwriters.
     

 (Reporting by Prakhar Srivastava in Bengaluru, Natalia Bueno Rebolledo in Mexico City, and Sumedha Mukherjee in Bengaluru; Editing by Tasim Zahid and Sherry Jacob-Phillips)
 ((Prakhar.srivastava2@thomsonreuters.com;))