SynopsisThe debut adds to signs that investor appetite for companies supporting the AI buildout remains robust, as ‌hyperscalers and technology ⁠firms ⁠pour billions into expanding data centers to meet soaring demand for AI computing.ITG's shares rose 12.5% in their Nasdaq debut on Wednesday, giving the Oaktree-backed digital infrastructure company a market value of $2.18 billion, as investors continued to back firms tied to the AI boom.The debut adds to signs that investor appetite for companies supporting the AI buildout remains robust, as ‌hyperscalers and technology ⁠firms ⁠pour billions into expanding data centers to meet soaring demand for AI computing."The current ​buzz around the AI and data center theme helped ITG to go public, ​with investors still looking for companies that can benefit from the rising demand around digital infrastructure," IPOX Research Associate Lukas Muehlbauer told Reuters.The ​Hendersonville, Tennessee-based company's shares opened for trading ⁠at $18, above its ‌IPO price of $16 per share.Founded in 2013, ITG ​supplies outsourced ​network services to broadband, fiber and wireless providers, as ⁠well as data center operators and utilities."ITG's listing shows ​how investors are still willing to support mid-cap ​infrastructure businesses if it comes with clear exposure to the AI investment cycle," said Cristiano Dalla Bona, co-head of equity capital markets at Mergermarket.The company, which competes with Quanta Services, MasTec and Dycom Industries, reported revenue of $333.9 million for the three months ended March 31, ‌2026, its latest regulatory filing showed.ITG's revenue remains skewed toward a few clients, with Comcast and Charter Communications ​accounting for about ​60% last year.The ⁠listing suggests that the broader US IPO market has regained momentum, with improving investor sentiment and strong demand for high-growth sectors such as AI ​encouraging more companies to go public."We will see additional digital infrastructure, connectivity, power and other AI-adjacent businesses consider public listings if market conditions remain supportive," Dalla Bona added.Software firm Bending Spoons and Uber-backed electric scooter maker Lime were among the companies that also debuted on Wednesday. ...moreElevate your knowledge and leadership skills at a cost cheaper than your daily tea.Subscribe Now