Accelevation and its selling shareholders raised $540 million in a U.S. initial public offering, highlighting continued investor interest in companies supporting the rapidly expanding data-center industry.

The Miamisburg, Ohio-based company sold 30 million shares at $18 each, below its marketed range of $20 to $24. Accelevation itself sold 10 million shares, while shareholders affiliated with private-equity firm Olympus Partners sold another 20 million.

Accelevation provides infrastructure products and services for data centers, a market that has expanded alongside demand for artificial intelligence computing. The company reported revenue of $447.8 million in 2025, compared with less than $3 million in 2021.

The IPO comes during a more cautious period for U.S. listings, with higher bond yields and market volatility affecting investor appetite. Several companies have delayed or reconsidered IPO plans as investors pay closer attention to valuations and business fundamentals.

Accelevation is scheduled to begin trading on the Nasdaq under the ticker ACCV on September 30. The offering is being closely watched as another test of investor demand for AI infrastructure and data-center businesses.