DayOne Data Centers prepares for US IPO with $20 billion valuation target

Singapore-based DayOne Data Centers is preparing for an initial public offering (IPO) on a United States stock exchange, potentially as early as next quarter. According to Bloomberg, the company could seek a valuation of approximately $20 billion and aims to raise around $5 billion through the offering.

Since its founding in 2022, DayOne has secured orders for more than 1.5 gigawatts of data capacity across Asia and Europe. The company plans to use the proceeds from the IPO to expand its data center footprint in key regions. This move comes amid a surge in investor interest in data center operators driven by the rapid development of artificial intelligence.

DayOne’s investor base includes Coatue Management, Hillhouse, Achi Capital Partners, and the Indonesian Investment Authority. Other notable backers include GDS Holdings, SoftBank Vision Fund, and Ken Griffin of Citadel.