Data center power system designer and builder Forgent Power Solutions (FPS.US) has filed for an Initial Public Offering (IPO), with the offering potentially raising up to $1.62 billion, highlighting intense investor interest in companies related to artificial intelligence (AI) infrastructure. According to a regulatory filing submitted by the company on Monday, the Dayton, Minnesota-based firm plans to issue 56 million shares of common stock, priced between $25 and $29 per share. Should the shares price at the top end of the range, and considering the post-IPO outstanding share capital, Forgent would achieve a valuation of approximately $8.8 billion. Forgent's core business involves manufacturing critical power supply equipment for data centers, with its product portfolio including transformers, switchboards, and power distribution units. The continuous, long-term operation of data centers is highly dependent on uninterrupted, highly reliable power supply, and this type of equipment is central to their stable functioning. Forgent was established in 2023 by private equity firm Neos Partners and expanded its business footprint through a series of acquisitions in 2023 and 2024. Even after the completion of this IPO, Neos Partners will retain majority voting rights in the company, maintaining control. Forgent's move to go public coincides with a period of accelerating capital expenditure in the AI and cloud infrastructure sectors, a window where related beneficiary companies are highly sought after by investors. OpenAI alone has stated its intention to gradually invest over $1 trillion in AI-related infrastructure. Earlier this year, cloud infrastructure services provider CoreWeave (CRWV.US) saw its stock price surge significantly after completing a $1.57 billion IPO. Currently, Forgent has manufacturing facilities in Minnesota, Texas, Maryland, California, and Mexico. As of September 30 last year, the company employed approximately 2,000 full-time staff. Regarding financial data, previously disclosed documents show that for the three months ended September 30, the company generated revenue of $283 million and a net profit of $10 million; during the same period the previous year, revenue was $154 million with a net profit of $6.3 million. Forgent's common stock is planned to list on the New York Stock Exchange under the ticker symbol "FPS".