Blackstone Data Center REIT Raises $1.75 Billion in IPO

Blackstone launched its Blackstone Digital Infrastructure Trust (BXDC) on the New York Stock Exchange, raising $1.75 billion through the sale of 87.5 million shares at $20 each. Shares opened flat at $20 on Thursday, May 14, 2026, under the ticker symbol BXDC. The offering was led by joint book-running managers Goldman Sachs, Citigroup, and Morgan Stanley, with a Blackstone affiliate indicating interest in investing up to $200 million.

The newly formed real estate investment trust targets newly constructed data centers valued between $250 million and $1.5 billion, leased long-term to investment-grade hyperscale tenants and cloud providers. BXDC has already identified $25 billion in near-term acquisition opportunities across Northern Virginia, Ohio, Phoenix, Maryland, and Austin. The IPO filing followed Blackstone's fiscal first-quarter earnings report showing revenue of $3.43 billion, a 24.22% year-over-year increase.

The listing coincides with a surge in AI-linked IPO activity, including billion-dollar offerings from Cerebras and Fervo Energy, as Big Tech spending on AI infrastructure is projected to exceed $700 billion this year. Blackstone, the world's largest alternative asset manager, currently manages over $150 billion in global data center assets, including QTS and AirTrunk, positioning BXDC to capitalize on accelerating demand for digital infrastructure.