Singapore Data Center Operator DayOne Secretly Files for US IPO
According to Bloomberg citing informed sources, DayOne Data Centers Ltd. has secretly submitted an application for an initial public offering (IPO) in the United States.
The Singapore-based data center operator plans to go public as early as next quarter and is considering raising approximately $5 billion through this IPO.
DayOne was previously spun off from Chinese data center operator GDS Holdings and focuses on the Asia-Pacific and European markets. It has established a presence in Singapore, Malaysia, Indonesia, Thailand, Japan, Hong Kong, Finland, and Spain, securing over 1.5 GW of capacity reservations.
The company completed a $4.5 billion Series C financing in June this year, led by Coatue and Hillhouse, and has selected banks including JPMorgan, Morgan Stanley, Bank of America, and Citigroup to arrange the IPO.
Informed sources say the company's target valuation could reach approximately $20 billion, but the specific scale and timeline may still be adjusted.
Market mechanisms indicate that AI-driven demand for data centers is prompting Asian operators to list in the US for financing, with funds flowing from global investors into high-growth computing infrastructure, while traditional low-growth assets are under pressure.
DayOne did not immediately respond to a request for comment.
Source: Public Information
ABAB AI Insight
DayOne, as a spinoff entity of GDS's overseas business, is advancing through multiple rounds of financing and a secret IPO to directly connect with the US capital market to support its expansion in the Asia-Pacific and Europe.
The capital path is reflected in the rapid entry into the IPO track after the $4.5 billion Series C round, motivated by the desire to leverage the AI computing demand window to secure large-scale equity financing while enhancing global visibility and funding channels through a US listing.
Similar to other Asian data center operators seeking overseas listings amid the AI boom, the current phase is accelerating the capitalization of computing infrastructure from regional expansion to global reach.
Essentially, this represents capital concentration and industry chain expansion, with the mechanism being that as AI training and inference demand continues to raise the investment threshold for data centers, the public market becomes the fastest path for large-scale financing.
ABAB News · Cognitive Law
- The AI boom is reshaping the listing rhythm of data centers.
- Secret submissions are a standard prelude to large IPOs.
- Computing infrastructure has become a target for cross-border capital.