Singapore-headquartered data center operator DayOne is aiming for a valuation of up to $20 billion for its upcoming U.S. initial public offering (IPO), a significant jump from the company’s previous funding rounds.
Deliberations are understood to be ongoing, though sources familiar with the matter noted that DayOne personnel are speaking with banks to discuss the potential share sale, which may take place sometime this year, a Bloomberg article stated.
This potential IPO would be one of the largest private-equity-backed AI infrastructure listings to date. Management is also evaluating a dual listing on both U.S. and Singapore exchanges as a potential option, the article noted.
Earlier this month, DayOne, previously known as GSD International (GSDI), announced that it closed its Series C funding round at around $2 billion, in an effort to “accelerate global digital infrastructure expansion,” a press release by the company stated.
The Series C funding round was led by global investor Coatue Management, as well as the Indonesia Investment Authority (INA), Indonesia’s sovereign wealth fund. The company was reported to have reached a $10 billion valuation following this funding round.
In 2024, the company raised $1.9 billion across Series A and B funding rounds, with backing from large private equity firms Boyu Capital, Hillhouse Investment, SoftBank Vision Fund and Citadel CEO Ken Griffin, the Bloomberg article continued.
Chinese data center operator GSD Holdings, which is a backer for DayOne, sold $385 million of its DayOne shares earlier this month, leaving its remaining equity interest in the company at more than $2.2 billion.
DayOne has data centers located in Thailand, Singapore, Malaysia, Indonesia, Hong Kong, Tokyo and Finland.
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