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DayOne Data Centers files for US IPO targeting up to $5 billion

Singapore-based data center operator DayOne has filed for a U.S. initial public offering, aiming to raise up to $5 billion amid sustained investor demand for artificial intelligence infrastructure.

A news card featuring a view of a DayOne data center building with text detailing its US IPO filing.
Image: @wallstengine

Singapore-headquartered data center operator DayOne Data Centers has filed for an initial public offering in the United States, positioning the company to tap resilient investor demand for artificial intelligence infrastructure. According to Wall St Engine and AGTP Insights, the company is seeking to raise up to $5 billion, with AGTP noting a confidential filing and Wall St Engine reporting that a Nasdaq listing could occur by year-end. Bloomberg previously reported that the offering could value DayOne at approximately $20 billion.[2][4][5][7]

The company submitted a Form F-1 with the U.S. Securities and Exchange Commission to list American depositary shares on the Nasdaq Global Select Market under the ticker DODC, with Morgan Stanley, JPMorgan, Bank of America, and Citigroup leading the offering. Its filing revealed significant top-line expansion, with first-half revenue surging 238% year-over-year to $512 million from $151.5 million. Meanwhile, net losses widened over the period: Wall St Engine reported a net loss of $81.9 million compared to $13.5 million a year earlier, while Techmeme cited a Reuters report placing the first-half net loss at $77.2 million.[1][3][5][6]

Formerly known as GDS International, DayOne was founded in 2022 and develops and operates cloud and AI data centers across the Asia-Pacific region and Europe. The company has secured over 1.5 gigawatts of capacity bookings since its inception. The public filing follows a $4.5 billion funding round closed months earlier led by Coatue and Hillhouse, alongside investors such as the SoftBank Vision Fund, GDS Holdings, and Citadel founder Ken Griffin.[5]

Key facts

  • DayOne Data Centers filed a Form F-1 with the SEC to list American depositary shares on the Nasdaq Global Select Market under the ticker DODC.
  • The offering is targeting up to $5 billion in fundraising, with Bloomberg previously reporting a potential valuation of around $20 billion.
  • DayOne's first-half revenue rose 238% year-over-year to $512 million from $151.5 million.
  • DayOne's first-half net loss widened, reported as $81.9 million by Wall St Engine and $77.2 million according to Reuters.
  • Formerly named GDS International, the Singapore-headquartered company has secured more than 1.5 gigawatts of capacity bookings since launching in 2022.
  • The company previously closed a $4.5 billion round led by Coatue and Hillhouse, with participation from SoftBank Vision Fund, GDS Holdings, and Ken Griffin.
  • Morgan Stanley, JPMorgan, Bank of America, and Citigroup are leading the IPO underwriting syndicate.

Sources · 6 sources

  1. RE

    Reuters@ReutersPost on X ·

    Data centre operator DayOne reveals revenue surge in US IPO filing https://t.co/RyL4CmGXpv https://t.co/RyL4CmGXpv

    Open source
  2. BL

    Bloomberg@businessPost on X ·

    DayOne filed for a US initial public offering, setting the Singapore-headquartered firm up to capture investors’ resilient demand for artificial intelligence infrastructure https://t.co/rzo7Uv7o9K

    Open source
  3. TE

    Techmeme@TechmemePost on X ·

    Singapore-based data center operator DayOne files for a US IPO, reporting its H1 revenue more than tripled YoY to $512M while its net loss widened to $77.2M (Pragyan Kalita / Reuters) (Visit Techmeme dot com for the link and full context!)

    Open source
  4. TS

    The Straits Times@straits_timesPost on X ·

    Singapore’s DayOne files for US IPO joining data centre rush https://t.co/Td3l1wzGA7

    Open source
  5. WS

    Wall St Engine@wallstenginePost on X ·

    SoftBank-backed DayOne Data Centers has filed for a U.S. IPO and is looking to raise up to $5B, with a Nasdaq listing likely by year-end. The Singapore-based operator’s first-half revenue jumped 238% to $512M, up from $151.5M a year earlier. Its net loss widened to $81.9M from $13.5M. Formerly known as GDS International, DayOne operates and develops data centers across Asia-Pacific and Europe. It has secured more than 1.5 gigawatts of capacity bookings since its inception in 2022. The IPO comes just months after DayOne closed a $4.5B funding round led by Coatue and Hillhouse, its largest shareholders. Other backers include SoftBank Vision Fund, GDS Holdings and Citadel founder Ken Griffin. DayOne expects to trade on Nasdaq under DODC. Bloomberg previously reported that the offering could value the company at around $20B. Morgan Stanley, JPMorgan, Bank of America and Citigroup are leading the offering.

    Open source
  6. RE

    Reuters@ReutersPost on X ·

    Data centre operator DayOne reveals revenue surge in US IPO filing https://t.co/x6qF1fiYtU https://t.co/x6qF1fiYtU

    Open source
  7. AG

    AGTP@AGTPinsightsPost on X ·

    BREAKING: Singapore's DayOne Data Centers has confidentially filed for a US IPO, targeting about $5 billion in fundraising and a listing as early as next quarter, as the AI data center rush continues. https://t.co/Y2q4RyZdU0

    Open source