❯ Data center power supplier Accelevation prices its US IPO below range, raising $540 million

Marketed at $20–$24, priced at $18According to Bloomberg, AI infrastructure company Accelevation and its backer Olympus Partners sold 30 million shares at $18 each in a US IPO, raising $540 million, below the marketed range of $20 to $24. The company plans to list on Nasdaq under the ticker ACCV.

Selling power gear for data centersThe Ohio-based company designs, manufactures and installs power distribution and other critical infrastructure for AI and cloud data centers, routing grid power safely to rows of servers. Private equity firm Olympus has owned it since early 2025 and will retain majority voting power after the offering. Its filing shows revenue grew 147% in 2025, with a backlog of about $1.1 billion as of the end of June 2026.

Investors get pickyThe data center building boom has sent revenue soaring at “picks and shovels” suppliers, but investors are growing more cautious on valuations. The same day, smart ring maker Oura postponed its IPO, and Bain published a report saying AI needs $6 trillion in annual revenue by 2031 to justify current data center spending. For AI infrastructure companies still in the IPO queue, high growth no longer automatically buys a high price.

▪ SIGNALAI infrastructure orders are still climbing, but public markets have started discounting them as investors sort durable growth from the peak of this build-out cycle.