DayOne Weighs Up Dual US-Singapore IPO Amid AI Demand Boost

Data center operator DayOne is considering a dual listing on both the New York Stock Exchange and in Singapore as it looks to capitalize on surging investor appetite for AI infrastructure assets, according to reports from the Financial Times and Reuters.

Earlier this year, reports suggested the company, formerly known as GDS International, was working with advisors on a potential US initial public offering that could raise around $5bn and value the business at approximately $20bn.

Floating through an SGX-Nasdaq dual-listing framework would allow DayOne access to both Asian and US liquidity pools while broadening its investor base at a time when data center operators have become major beneficiaries of the global AI spending boom.

The company is reportedly evaluating both listing structure and timing, with no final decision yet made.

In January this year, DayOne’s Series C equity financing raised over $2bn, though at the time the firm did not disclose a valuation.

DayOne develops and operates hyperscale data centers across Asia, serving cloud providers and enterprise customers with facilities concentrated in markets including Malaysia, Indonesia, Thailand, and Japan.

The business was carved out from Chinese data center group GDS Holdings as its international arm, and has increasingly positioned itself as an infrastructure play linked to artificial intelligence and cloud expansion.

Current investors include SoftBank Vision Fund, US investment firm Coatue Management, and Ken Griffin, while GDS retains a minority stake.

Investor interest in the sector has intensified as major technology companies ramp up capital expenditure on AI workloads, creating heavy demand for power-intensive data center capacity globally.