Abu Dhabi-based BWI Announces Blaizes Successful IPO On NASDAQ

The company’s listing was done through BurTech Acquisition Corporation, a Special Purpose Acquisition Company (SPAC) owned by BWI with a valuation of $1.2 billion, BWI said.

This milestone positions Blaize as a key player in addressing critical national security challenges and marks the first AI IPO of 2025, it said.

Blaize’s journey to becoming a publicly traded company also highlights the evolution of SPACs from their earlier iterations (SPAC 2.0) to the more refined SPAC 3.0 model.

Unlike previous SPACs, which faced criticism for overvaluation and limited post-IPO success, BurTech’s approach emphasises robust pre-IPO funding, strategic partnerships, and rigorous operational readiness.

Blaize’s $116 million convertible note with additional funding to follow at close in terms of a fully subscribed PIPE and retained funds of $36 million in the trust account, is said to be one of the largest pre-IPO funding efforts for a SPAC transaction in history.

The SPAC 3.0 model offers a unique advantage over traditional IPOs by pre-funding high-growth ventures, creating opportunities for retail and institutional investors to participate at a value level that offers greater returns.

In contrast, traditional IPOs often prioritise returns for their existing investors, leaving limited growth potential for retail investors and new institutional participants.

Shahal Khan, CEO of BurTech and Burkhan World Investments, said the company’s approach with BurTech reflects the principles of SPAC 3.0 – a model that prioritises investor confidence and long-term value creation.

“This IPO underscores our commitment to investing in transformative technologies that utilise AI as a force for good. Blaize’s innovative edge AI solutions will have a profound impact on securing our schools, borders, and communities,” he said.

In addition to funding from Burkhan World Investments, the IPO was bolstered by an investment from the Private Office of Sheikh Ahmed Dalmook Al Maktoum, reflecting the UAE’s commitment to establishing itself as a global hub for artificial intelligence.

This investment also aligns with the UAE’s broader ambition to diversify its economy and lead the adoption of cutting-edge technologies.

“Sheikh Ahmed Dalmook Al Maktoum’s investment exemplifies the UAE’s strategic focus on empowering innovation and fostering collaboration between global and regional leaders in AI technology,” said Khan.

“This deal also strengthens the bridge between the US and the UAE innovation and the global AI ecosystems in order to bring leading technologies to the world,” he said.

Blaize’s edge AI solutions allow data processing at the source, enabling faster, more secure responses for applications such as real-time surveillance, autonomous security systems, and proactive safety measures.