Singapore’s DayOne files for US IPO joining data centre rush
The data centre operator is part of a wave of firms in the sector eyeing IPOs as soon as 2026.
Singapore's DayOne Data Centers has filed for a US IPO, joining the wave of firms in the data centre sector seeking to capitalize on investors' demand for artificial intelligence infrastructure. The company reported a net loss of US$81.9 million on revenue of US$512 million for the six months ending June 30, 2024, compared to a net loss of US$13.5 million on revenue of US$151.5 million in the same period a year earlier.
DayOne, formerly known as GDS International, aims to raise up to US$5 billion at a valuation of about US$20 billion, and is being led by Morgan Stanley, JPMorgan Chase & Co, Bank of America, and Citigroup. The IPO is expected to trade on the Nasdaq Stock Market under the symbol DODC.
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