Forgent Power Solutions, Inc. (FPS) saw its stock soar 5.15% during intraday trading on Thursday, following its debut on the New York Stock Exchange.

The electrical equipment maker began trading after pricing its initial public offering at $27 per share, raising approximately $1.5 billion. Investor enthusiasm is tied to the company's role as a critical infrastructure provider for data centers, which are experiencing surging demand due to the artificial intelligence boom.

Forgent designs and manufactures electrical distribution equipment used in data centers, with 42% of its total revenue coming from this sector in full-year 2025. Analysts note that the AI-driven expansion of computing capacity is creating significant demand for essential datacenter equipment, positioning Forgent as a potential beneficiary of this ongoing trend.