The Globe and Mail reports in its Friday edition that Brookfield-backed data centre provider Csquare's shares opened marginally lower before trading down about 3 per cent in their New York Stock Exchange debut on Thursday. A Reuters dispach to The Globe says Csquare's shares opened at $20.90 after the Dallas-based company priced its IPO at $21 a share, below its marketed range of $23 to $27, valuing the firm at $3.24-billion (all figures U.S.). It closed Thursday at $20.67. The debut underscores investors' caution toward new listings as markets scrutinize valuations and pricing. The company's decision to price below its marketed range suggests investors remain selective despite the artificial-intelligence frenzy. "Csquare likely had to price below the range because investors saw attractive exposure to data centre demand amid substantial leverage and continued losses," said IPOX Research Associate Lukas Muehlbauer. However, growing investor appetite for companies supporting AI development has sparked a wave of listings in the sector. The debut comes a week after South Korean chipmaker SK Hynix's US$26.5-billion U.S. listing. Brookfield is expected to retain voting control of Csquare after the offering.