Blackstone’s Data Center Trust Raises $1.75B, Opens Flat at $20
Blackstone raised $1.75 billion by selling 87.5 million shares at $20 each in its new Digital Infrastructure Trust IPO, whose stock opened unchanged. The vehicle plans to invest in $25 billion of data centers leased to hyperscale tenants as AI infrastructure spending is projected to surpass $700 billion by 2026.
1. IPO Details
Blackstone Digital Infrastructure Trust sold 87.5 million shares at $20 each in a U.S. IPO, raising $1.75 billion and opening flat at the issue price, signaling cautious investor reception despite strong thematic demand for AI infrastructure assets.
2. Investment Strategy
The trust plans to deploy capital into $25 billion of newly constructed data center assets under long-term leases to hyperscale, investment-grade tenants across top U.S. markets such as Northern Virginia, Ohio, Phoenix, Maryland and Austin.
3. Market Context
Big Tech’s AI infrastructure spending is projected to exceed $700 billion by 2026, and Blackstone’s global data center portfolio exceeds $150 billion, including holdings like QTS and AirTrunk, with QTS’s leased capacity rising 14-fold since 2021.