Blackstone REIT Raises $1.75 Billion in IPO to Buy Data Centers

Blackstone Digital Infrastructure Trust Inc. raised $1.75 billion in a US initial public offering, as investors’ appetite for artificial intelligence infrastructure shows no sign of easing.

The asset manager’s data-center acquisition vehicle aims to buy already-built and leased properties benefiting from the AI boom. It sold 87.5 million shares at a fixed price of $20 per share, according to a statement Wednesday.