SINGAPORE: DayOne Data Centres Ltd has filed for a US initial public offering (IPO), setting the Singapore-headquartered firm up to capture investors’ resilient demand for artificial intelligence (AI) infrastructure.
The data centre (DC) operator had a net loss of US$81.9mil on revenue of US$512mil for the six months ended June 30, compared with a net loss of US$13.5mil on revenue of US$151.5mil in the corresponding period a year earlier, according to its filing Monday with the US Securities and Exchange Commission.
Once an international affiliate of Chinese DC operator GDS Holdings Ltd, DayOne was previously known as GDS International before rebranding last year.
The company filed confidentially in August for a US IPO that may seek to raise as much as US$5bil at a valuation of about US$20bil, Bloomberg News has reported.
The DC operator is part of a wave of firms in the sector eyeing IPOs as soon as this year.
Others include Switch Inc, which is seeking a valuation approaching US$50bil including debt, and London-based Nscale, which could raise as much as US$3bil, people familiar with the matter have said.
DayOne closed a US$4.5bil 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 DC capacity as of Sept 20, nearly all of which it expects to deliver by end-2028.
Along with GDS, which remains an investor, its backers also include SoftBank Vision Fund and Citadel’s Ken Griffin.
DayOne is running or developing DCs in Singapore, Malaysia, Indonesia, Thailand, Hong Kong, Japan, Finland and Spain, its filing showed. — Bloomberg
