Data centre operator DayOne reveals revenue surge in US IPO filing

Data centre company DayOne Data Centers announced plans for an initial public offering in the United States on Monday, aiming to capitalize on investor interest in the data center sector despite current market uncertainties. The company disclosed a net loss of $77.2 million on revenue of $512 million for the six months ending June 30, compared to a loss of $12.6 million on $151.5 million in revenue during the same period last year.

The IPO filing arrives at a time when rising bond yields and high interest rates are casting doubt on the future of IPOs scheduled for the fall, leading several major listings to be delayed. DayOne operates data centers that supply cloud-computing and AI services to customers, offering them space, power, cooling, and connectivity through long-term contracts.

The company's operations span across Asia-Pacific and Europe, including countries like Malaysia, Indonesia, Thailand, Hong Kong, Japan, Finland, and Spain. DayOne was established by Shanghai-based GDS Holdings, which formed GDS International in Singapore in 2022, later rebranding it as DayOne in January 2025. The IPO details have not been disclosed by the company, although it is rumored that they plan to raise up to $5 billion with an estimated valuation of $20 billion.

The funds raised will be utilized for the development and construction of new data center projects, as well as for general corporate use. Morgan Stanley, J.P. Morgan, BofA Securities, and Citigroup are among the underwriters for the offering with the company intending to list its American depositary shares on the Nasdaq under the ticker symbol DODC.