The cloud-service provider filed with a listing size of $100 million, a placeholder amount that will likely change.

Its two pillars of strength -- hardware for graphics and for AI in the data center -- have made it the third-largest chipmaker, behind TSMC and Samsung.

Communication towers and data center stocks have seen some of the biggest gains in the S&P 500 so far this year.

Dell surged 12% following a report that it was mulling a spinoff of its 81% stake in VMware.

The potential transaction could raise about $1 billion for the Shanghai-based developer of hyperscale data centers.

It’s the latest of big funds piecing together vast, comprehensive infrastructure platforms for connectivity and computing.

Using a financing method called "securitization," US-based data center operators have been able to raise more money to finance growth than their European counterparts, who primarily rely on traditional bank financing.

The colocation giant said the deal would add 500 net new customers, $105 million in annualized revenue.

The company attributed the drop to customers spending more on “remote work and business continuity solutions” rather than server farms.