- AirTrunk, a Blackstone-backed hyperscale data-center operator, has delayed plans for a Singapore listing.
- The delay stems from market volatility and uncertainty over the direction of U.S. interest rates, according to people familiar with the matter.
- AirTrunk is the latest AI-linked company to shy away from a public offering.
- Demand for AI-linked assets remains strong, but investors have turned cautious and are seeking higher yields amid expectations of higher interest rates.
- The report places the delay within a volatile global market backdrop in which the prolonged U.S.-Iran war has lifted oil prices and stoked inflation concerns.
Quotes
“has delayed plans for a Singapore listing because of market volatility and uncertainty over where U.S. interest rates are headed”
“While demand for assets tied to artificial intelligence remains strong, investors have turned cautious and are seeking higher yields amid expectations of higher interest rates”