Flex announced October 5 that funds affiliated with General Catalyst, Koch Equity Development and co-investors agreed to buy $2 billion of Series A convertible preferred shares in Axiom, Flex’s cloud and power infrastructure segment.
Capital for power, thermal and compute infrastructure
Flex says the transaction assigns Axiom an initial enterprise value of $37.5 billion. Net proceeds are intended to help finance Axiom’s pending EPC Power acquisition, repay interim financing, pay preferred dividends or support general corporate purposes.
Flex plans to separate Axiom into an independent public company in the first quarter of 2027. The investment remains subject to regulatory approvals and customary closing conditions; the valuation, timetable and expected benefits are company-stated rather than completed outcomes.