Singapore’s data center company seeks to raise $5B in US IPO
Singapore-based data center operator DayOne Data Centers has filed for a U.S. initial public offering as it considers raising around US$5 billion amid a surge in demand for AI infrastructure.
Singapore-based data center company DayOne is set to seek a $5 billion IPO in the United States, according to sources familiar with the matter. The corporate entity, established in 2022, recently wrapped up a $4.5 billion Series C funding round, spearheaded by its primary shareholders Coatue Management and Hillhouse. New investors ACHI Capital Partners and the Indonesia Investment Authority also took part in the financing round.
DayOne plans to leverage this influx of capital to expedite its growth in key markets such as Singapore, Malaysia, Indonesia, Thailand, Japan, Hong Kong, Finland, and Spain. The firm has already secured over 1.5 gigawatts of capacity bookings across the Asia-Pacific and Europe regions. Its investor roster includes notable names like China's GDS Holdings, SoftBank Vision Fund, and Citadel's Ken Griffin.
DayOne's portfolio comprises approximately 480 megawatts of operational or under-construction data center capacity and an additional 590 megawatts earmarked for future development in strategic locales including Hong Kong, Indonesia, Japan, Malaysia, and Singapore. The surge in investor interest in data centers can be attributed to the burgeoning AI sector.
This week, Australia's Firmus Technologies announced a $2 billion investment round, in which Coatue also participated. Other data center operators like Switch and Nscale are also contemplating a U.S. initial public offering in 2026.
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