The Globe and Mail reports in its Tuesday edition that data-centre provider Csquare is targeting a valuation of up to $4.18-billion in its U.S. initial public offering, riding a wave of investor enthusiasm for companies expected to benefit from the artificial-intelligence boom (all figures U.S.). A Reuters dispatch to The Globe says Dallas-based company said Monday it aims to raise up to $1.35-billion in the IPO by offering 50 million shares at $23 to $27 apiece. AI chipmaker Cerebras Systems' shares surged in their May market debut after the company raised $5.55-billion in its IPO, with the market now awaiting potential blockbuster listings from Anthropic and OpenAI. Founded in 2019, Csquare owns and operates 64 data-centre sites across 21 metropolitan markets in North America and Britain, providing co-location and connectivity services to enterprises, cloud providers and telecommunications companies. It plans to use most of the IPO proceeds to repay debt, with the remainder allocated for general corporate purposes, including acquisitions, working capital and capital expenditures. After the offering, Brookfield Corp. will control about 67 per cent of Csquare's voting power through entities it manages or controls.