People familiar with the matter said that due to rising interest rates and market fluctuations weakening investor demand, data center operator AirTrunk postponed its planned real estate investment trust IPO in Singapore until next year. According to people familiar with the matter, the company invested by the Blackstone Group originally planned to officially launch a roadshow in early October to test the market's willingness to invest in this $1.5 billion REIT IPO. Since the information has not been made public, relevant sources requested anonymity. Another data center company, Firmus Grid Ltd., cancelled its Australian IPO plan last week. The Nvidia-backed company was unable to obtain sufficient subscription demand in terms of target valuation, reflecting investors becoming more cautious about artificial intelligence infrastructure deals that rely on future earnings. People familiar with the matter revealed that AirTrunk had considered increasing the yield of REIT products to attract investors, raising the yield from 5.5% previously anticipated to around 6%. However, the US interest rate hike in September and expectations of subsequent interest rate hikes still make investors cautious.

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