(Aug 11): DayOne Data Centers Ltd has confidentially filed for a US initial public offering, according to people familiar with the matter.

The Singapore-based data centre operator aims to list as soon as next quarter, the people said, asking not to be identified discussing private information. It has been considering raising around US$5 billion (RM20.46 billion) from the IPO, the people said.

Bloomberg News reported previously that DayOne may target a valuation of about US$20 billion from the listing. Considerations are ongoing and details, including size and timing, may change, the people said.

DayOne didn’t immediately respond to a request for comment.

DayOne closed a US$4.5 billion 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 financing will accelerate DayOne’s expansion in key markets such as Singapore, Malaysia, Indonesia, Thailand, Japan, Hong Kong, Finland and Spain, the company said.

Since its inception in 2022, DayOne has secured more than 1.5GW of bookings for capacity in the Asia Pacific and Europe. Its investors also include China’s GDS Holdings Ltd, SoftBank Vision Fund and Citadel’s Ken Griffin.

Investor interest in data centres has been surging with the rise of artificial intelligence. Australia’s Firmus Technologies Pty said last week it had received commitments for a US$2 billion investment round. Coatue was involved in that as well. Switch Inc and Nscale are among other data centre operators lining up IPOs in the US as soon as this year.

Dallas-based Csquare Inc raised US$1.05 billion in an IPO last month after pricing the offering at US$21 per share, below a marketed range. The Brookfield Corp-backed data centre firm closed at US$21.6 on Monday in New York.

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