AI Firm Is Best Performing Ex-SPAC, Surging Past Trump Media
- Vertiv shares returned 555% since their debut in 2020
- Firm makes power management and cooling tech for data centers
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Vertiv Holdings Co. has captured the title of the best-performing company to go public in a blank-check deal, building a more than $30 billion market value on excitement surrounding artificial intelligence, and thwarting a milestone for Donald Trump’s media startup.
The AI infrastructure firm, which went public through a merger with a Goldman Sachs Group Inc.-backed special purpose acquisition company in 2020, has delivered a 555% return, according to data compiled by Bloomberg. The shares have soared from their debut well before the pandemic-era SPAC boom began.