AI infrastructure supplier Accelevation announced on Tuesday that its initial public offering is targeting a valuation of up to $5.37 billion, joining the ranks of companies capitalizing on surging investor appetite for AI-related equities.

The company, along with certain selling shareholders, plans to offer 30 million shares priced between $20 and $24 each, potentially raising as much as $720 million. Headquartered in Miamisburg, Ohio, and founded in 2017, Accelevation manufactures and installs power distribution and data center infrastructure products used inside facilities.

Its offerings include branch circuit whips, remote power panels, power distribution units (PDUs), along with associated monitoring, thermal management, and on-site installation services, all integrated into factory-preassembled components. Revenue is generated through product sales as well as installation and field services delivered at customer sites. The client base spans hyperscale data center operators, colocation providers, and AI and cloud service companies.

In 2025, the company posted revenue growth of 147%, and as of June 30, 2026, its order backlog stood at roughly $1.1 billion. Over the twelve months ending June 30, 2026, Accelevation generated $727 million in revenue. The firm plans to list on the Nasdaq under the ticker "ACCV," with underwriters including Morgan Stanley, JPMorgan, Goldman Sachs, and BofA Securities.

Market research reports have highlighted that power demand from global AI data centers is expanding explosively, far outpacing the traditional elastic growth patterns of IT loads. Over the coming years, US utilities and other grid developers may need to channel trillions of dollars into large-scale upgrades of aging power networks, providing robust capacity expansion resources to support the unprecedented AI data center buildout and expansion cycle led by tech giants like Microsoft, Google, and Amazon.

Whether through grid system modernization or policies favoring self-built power infrastructure, global power assets are entering a structural revaluation cycle driven entirely by the AI computing infrastructure boom. For Accelevation, this power asset surge could bode well for a strong IPO performance.