AI Data Center Power Stock Plummets 7% After Large IPO

Forgent Power Solutions Inc. (NYSE: FPS) closed at $44.07 on the New York Stock Exchange, down 7.22% from the previous trading day. With a market capitalization of roughly $11.5 billion (about KRW 16 trillion), the company saw approximately $770 million (around KRW 1 trillion) wiped out in a single session. Trading volume reached 6.68 million shares.

On July 1, FPS priced a public offering of about 43.65 million common shares at $49 per share, with both its largest shareholder, Neos Partners, and the company itself placing shares on the market simultaneously. (financialcontent.com) Earlier in May, FPS reported double-digit Q3 revenue growth, record orders and backlog, and raised its full-year guidance, further fueling growth expectations. (financialcontent.com)

Founded in 2023, Forgent Power Solutions designs and manufactures customized power-distribution equipment for data centers, power grids and energy-intensive industries. The company went public on the NYSE in February 2026. (stockanalysis.com) Riding the AI data-center investment boom, FPS is classified as a high-growth beneficiary in the power-infrastructure sector, with fiscal 2025 revenue expected to exceed the prior year by more than 200%. (stockanalysis.com)