Montreal-based data center developer 5C Group is considering a public listing as it expands its network of artificial intelligence computing campuses across North America, according to the head of its parent company.
Simon Ahdoot, Chief Executive Officer of Hypertec Group Inc., said at the Bloomberg Canadian Finance Conference in New York that the company’s growth trajectory makes an initial public offering a realistic option. He said further discussions on the matter are expected once 5C closes its current round of financing.
5C was created when Hypertec Cloud spun out of Hypertec Group and acquired 5C Data Centers in 2025. Hypertec Group, founded in the 1980s, designs and manufactures high-performance computers and server racks and provides data center solutions. Hypertec remains 5C’s largest shareholder.
Billions Raised, Billions More Sought
Since 2025, 5C has secured more than $1.4 billion in funding, including an equity round led by Brookfield Asset Management Ltd. and debt financing led by Deutsche Bank AG. Ahdoot said the company’s next financing push will aim to raise an incremental $5 billion to $6 billion through a combination of debt and equity.
5C’s project roadmap covers 1,500 megawatts of compute and data center capacity, of which about 110 megawatts are already operational. The company is currently developing large-scale data center campuses in Springfield, Ohio, Memphis and Phoenix.
Partnerships and Hiring Hurdles
Ahdoot said 5C’s partnerships allow it to build data centers more cheaply and quickly than much of the broader market. However, he acknowledged that staffing remains a challenge for the company, pointing to high turnover in the technology sector as a key driver of difficulty in hiring workers with the right skills.
The developments come as Hypertec continues to expand its footprint in the AI hardware space. Earlier this year, Hypertec subsidiary Ciara Technologies became Nvidia Corp.’s first original equipment manufacturer partner to manufacture its systems in Canada.
5C Group's Data Center Expansion by the Numbers
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