Wall Street banks are getting ready to raise billions of dollars taking data center companies public, even after IPO investors have already piled into anything that looks like a bet on artificial intelligence spending.

The initial public offering for a Blackstone Inc. data-center acquisition vehicle next week is set to fire the starting gun on a host of activity over the coming 18 months, and together with Singapore-based DayOne Data Centers Ltd. may raise close to $7 billion in aggregate, Bloomberg News has reported. Brookfield Infrastructure Partners-backed CSquare has filed confidentially, and a half dozen others are also circling US IPOs, according to people familiar with the matter.