Investors Eye Data Center IPOs to Ride AI Infrastructure Boom

Investors are hungry for a piece of the US data centers powering the artificial intelligence boom, and a handful of initial public offerings expected in 2025 would feed that appetite.

CoreWeave Inc., which operated 28 data centers globally at the end of 2024, is one of the industry players expected to launch its IPO early this year, eyeing a valuation of more than $23 billion. The cloud-computing provider is backed by tech giants like Nvidia Corp. and Cisco Systems Inc.

Northern Data AG, which is listed in Frankfurt, is weighing a US listing of a unit that combines its ...