Ohio-based Accelevation announces IPO plans targeting up to $5.37B valuation
Business
Accelevation, an AI infrastructure company from Ohio, just announced plans to go public with a target valuation of up to $5.37 billion.
It is looking to raise up to $720 million by selling 30 million shares priced between $20 and $24 each, tapping into the current buzz around AI stocks.
Accelevation to trade on Nasdaq ACCV
The shares will trade on Nasdaq under the symbol ACCV, with big banks like Morgan Stanley and Goldman Sachs backing the deal.
By joining the wave of tech IPOs, Accelevation hopes to ride the growing demand for all things AI and get more eyes (and dollars) on its innovations.