Vertiv Holdings has captured the title of the best-performing company to go public in a blank-check deal, building a more than $30 billion market value on excitement surrounding artificial intelligence, and thwarting a milestone for Donald Trump’s media startup.
The AI infrastructure firm, which went public through a merger with a Goldman Sachs Group-backed SPAC in 2020, has delivered a 555% return, Bloomberg reports.
In an environment where many SPAC investors have faced losses, Vertiv’s performance has been a bright spot, outpacing the S&P 500 Index’s returns by more than eightfold. This achievement is particularly noteworthy given the high-profile competition from entities like Donald Trump’s media startup, which, despite initial gains, has seen a significant reversal in fortune.
The optimism surrounding Vertiv is largely fueled by the burgeoning demand for data center capacity, driven by investments in generative AI. Vertiv, deriving the majority of its revenue from the sale of power management and IT systems for data centers, is perfectly positioned to capitalize on this trend. Wall Street’s confidence is reflected in the overwhelmingly positive analyst recommendations, with 12 buys and a solitary hold, underscoring the belief in Vertiv’s growth trajectory. Read more.
