Shares of digital infrastructure firm ITG jumped 12.5% on their first day of trading on the Nasdaq, valuing the company at $2.18 billion.
The sharp opening gain underscores persistent investor demand for equities tied to the artificial intelligence build-out, even as the broader market navigates a period of elevated valuations.
5 million shares, ITG secured its entry into the public markets with a conservative entry point that appears to have been well-received by buyers.
The Oaktree-backed company priced its initial public offering at $16 per share, a level below the targeted range, to raise $312.2 million.
By selling 19.5 million shares, ITG secured its entry into the public markets with a conservative entry point that appears to have been well-received by buyers.
The immediate repricing suggests that institutional and retail investors are eager to capture exposure to the data center and AI infrastructure sector.
This debut comes as US equity markets extend a broad-based rally, with major indices approaching record levels.