Vantage Data Centers explores $100B IPO

Vantage Data Centers, a major hyperscale data center developer and operator backed by Silver Lake and DigitalBridge, is exploring strategic options including an initial public offering or a sale, potentially as soon as next year. According to sources, the company could raise around $10 billion and achieve a valuation of approximately $100 billion, which would make it the largest data center IPO to date. The company has held preliminary discussions with financial advisers, but no formal process has been launched and plans remain subject to change. Vantage has raised roughly $11 billion since late 2023, including a $9.2 billion equity investment led by DigitalBridge and Silver Lake. The company recently partnered with Oracle and OpenAI on a data center campus in Wisconsin tied to the Stargate joint venture with SoftBank, targeting up to $500 billion in AI infrastructure. The potential listing comes amid a revival in data center public listings, with Switch and CyrusOne also preparing IPOs.