Hypertec Group Inc. chief executive Simon Ahdoot told the Bloomberg Canadian Finance Conference in New York that 5C Group is on a trajectory that puts an IPO squarely on the table. As he put it, "Realistically, the growth trajectory we've seen makes it so we're absolutely considering an IPO." He added, "That's something that I expect will be in further discussions after we close the current round of financing."
Montreal-based 5C builds and operates large artificial intelligence data center campuses across North America. After Hypertec Cloud separated from Hypertec Group, it purchased 5C Data Centers in 2025, creating the basis for what is now 5C. Since then, it has raised more than $1.4 billion, with equity backing headed by Brookfield Asset Management Ltd., and a debt package with Deutsche Bank AG in the lead. Hypertec remains the largest shareholder. Looking ahead, Ahdoot said, "The next piece is going to raise an incremental $5 billion or $6 billion in a combination of debt and equity."
5C has mapped out 1,500 megawatts of compute and data center capacity, with about 110 megawatts already online. It is developing large-scale campuses in Springfield, Ohio as well as Memphis and Phoenix. Ahdoot said, "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." Hiring remains a pain point, though: "Hiring the right people, hiring the right skill sets is a challenge," he said. "I think a big reason for that is the turnover in technology is driving a particular challenge there."
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Founded in the 1980s, Hypertec Group builds high-performance computing systems and server racks and delivers data center solutions. Earlier this year, Ciara Technologies, a unit of Hypertec, was named Nvidia Corp.'s inaugural original equipment manufacturer partner to produce its systems in Canada. Ahdoot called Nvidia "the biggest name in any question of AI infrastructure," adding, "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." For everyday investors, the takeaway is simple: if 5C pushes ahead with a massive buildout and eventual IPO, it is another sign that AI infrastructure is still in land-grab mode - and the race to add capacity is very real.
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