Brookfield-backed AI data centre developer 5C eyes IPO

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomeNewsBrookfield-backed AI data centre developer 5C eyes IPOThe firm has a project roadmap of 1,500 megawatts in compute and data centre capacityAuthor of the article:Brookfield Place, which contains the Brookfield Asset Management headquarters, in New York, U.S., on May 14, 2025. Photo by Yuki Iwamura/BloombergThe head of Hypertec Group Inc. says data centre developer 5C Group may go public as it ramps up its project pipeline.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountMontreal-based 5C builds and operates large-scale artificial intelligence data centre campuses in North America. The firm formed when Hypertec Cloud spun out of Hypertec Group and acquired 5C Data Centers in 2025.“Realistically, the growth trajectory we’ve seen makes it so we’re absolutely considering an IPO,” Hypertec Chief Executive Officer Simon Ahdoot said at the Bloomberg Canadian Finance Conference in New York. “That’s something that I expect will be in further discussions after we close the current round of financing.”This advertisement has not loaded yet, but your article continues below.Since 2025, 5C has secured more than US$1.4 billion in funding, including equity financing led by Brookfield Asset Management Ltd. and debt financing led by Deutsche Bank AG. Hypertec remains the largest shareholder.Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try again“The next piece is going to raise an incremental US$5 billion or US$6 billion in a combination of debt and equity,” Ahdoot said.The firm has a project roadmap of 1,500 megawatts in compute and data centre capacity — about 110 megawatts of capacity are already in operation. It is developing large-scale data center campuses in Springfield, Ohio, Memphis and Phoenix.“With leveraging the partnerships that we have with them, 5C is able to build less expensive and more quickly than the market can in general,” Ahdoot said.But there are hurdles. “Hiring the right people, hiring the right skill sets is a challenge,” he added. “I think a big reason for that is the turnover in technology is driving a particular challenge there.”Hypertec Group was founded in the 1980s. It designs and manufactures high-performance computers and server racks, and offers data center solutions.Earlier this year, the company’s unit Ciara Technologies became Nvidia Corp.’s first original equipment manufacturer partner to manufacture its systems in Canada.“They are the biggest name in any question of AI infrastructure,” Ahdoot said. “So having their confidence and trusting us to be an OEM partner for them is a very strong recognition of what we can contribute to the story within Hypertec.”This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.