Singapore’s DayOne files for US IPO joining data centre rush
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DayOne Data Centers is part of a wave of firms in the sector eyeing IPOs as soon as 2026.
PHOTO: DAYONE
- DayOne Data Centers, headquartered in Singapore, filed for a US IPO to capitalise on strong demand for artificial intelligence infrastructure, aiming to raise up to US$5 billion with a US$20 billion valuation.
- The company reported a net loss of US$81.9 million on US$512 million revenue for the six months ended June 30, expanding rapidly across Asia Pacific and Europe with over 1.5 gigawatts booked since 2022.
- Backed by major investors like Coatue Management, Hillhouse, SoftBank Vision Fund, and Citadel, DayOne operates in multiple countries and plans to list on Nasdaq under the symbol DODC, amid a wider data centre IPO wave.
AI generated
NEW YORK – DayOne Data Centers filed for a US initial public offering, setting the Singapore-headquartered firm up to capture investors’ resilient demand for artificial intelligence infrastructure.
The data centre operator had a net loss of US$81.9 million (S$104.8 million) on revenue of US$512 million for the six months ended June 30, compared with a net loss of US$13.5 million on revenue of US$151.5 million in the corresponding period a year earlier, according to its filing on Oct 5 with the US Securities and Exchange Commission.
Once an international affiliate of Chinese data centre operator GDS Holdings, DayOne was known as GDS International before rebranding in 2025.
The company filed confidentially in August for a US IPO that may seek to raise as much as US$5 billion at a valuation of about US$20 billion, Bloomberg News has reported.
The data centre operator is part of a wave of firms in the sector eyeing IPOs as soon as 2026.
Others include Switch, which is seeking a valuation approaching US$50 billion including debt, and London-based Nscale, which could raise as much as US$3 billion, people familiar with the matter have said.
DayOne closed a US$4.5 billion Series C funding round in June, led by its biggest shareholders, Coatue Management and Hillhouse, and also including new backers Achi Capital Partners and the Indonesian Investment Authority.
The company booked about 2.3GW of data centre capacity as at Sept 20, nearly all of which it expects to deliver by the end of 2028, the filing shows.
DayOne is running or developing data centres in Singapore, Malaysia, Indonesia, Thailand, Hong Kong, Japan, Finland and Spain, its filing shows.
The offering is being led by Morgan Stanley, JPMorgan Chase & Co, Bank of America and Citigroup.
The company expects its American depositary receipts to trade on the Nasdaq Stock Market under the symbol DODC. BLOOMBERG