Celestica Inc. Raises $3 Billion to Fund AI Infrastructure

Celestica Inc. is raising $3 billion through the sale of new common shares to finance expansions in high-performance AI compute and data center Ethernet networking. The company priced the offering between $310 and $330 per share, a discount of up to 15% from its Wednesday closing price of $362.76.

Following the announcement, Celestica's US shares fell 12% to $319 in after-hours trading. Despite the stock price dip, reports indicate the deal was oversubscribed at launch. Bank of America Corp., Citigroup Inc., and Toronto-Dominion Bank are managing the share offering.

This capital raise aligns with a broader trend of data center and equipment suppliers seeking funds for artificial intelligence infrastructure. Similar multi-billion dollar listings were recently conducted by Forgent Power Solutions Inc. and Blackstone Digital Infrastructure Trust Inc.