Singapore-headquartered DayOne Data Centers closed a US$2.0 billion Series C equity round on 5 January 2026 — one of the largest private capital raises ever recorded in the global data centre sector — led by Coatue and backed by Indonesia's sovereign wealth fund, the Indonesia Investment Authority (INA). By mid-March, Bloomberg reported that DayOne had moved to file confidentially with the US Securities and Exchange Commission for an initial public offering, with four bulge-bracket banks — JPMorgan, Morgan Stanley, Bank of America, and Citigroup — engaged on the deal. The company is targeting a valuation as high as US$20 billion and aims to raise approximately US$5 billion in the offering, which could make it one of the largest tech IPOs of 2026.

DayOne was formed in 2022 as GDS International, the international business unit of GDS Holdings, China's largest data centre operator. It rebranded as an independent company in 2025, retaining GDS founder William Huang as chairman of both boards — a governance arrangement that analysts note may require unwinding to satisfy US regulators and investors wary of Chinese access to critical data infrastructure. The company's portfolio spans more than 500MW of capacity in service or under construction across Singapore, Johor (Malaysia), Batam (Indonesia), Greater Bangkok, Tokyo, and Hong Kong, with a further 500MW held for future development. It has also broken into Europe with a hyperscale campus in Lahti, Finland. DayOne's Series C was priced at a 100% premium to prior funding rounds, with the company securing customer commitments for approximately 1GW of capacity.

The deal arc — from record Series C to confidential IPO filing in just ten weeks — reflects the extraordinary investor appetite for AI-ready digital infrastructure in Southeast Asia. The capital from the Series C is being deployed across the SIJORI corridor (Singapore–Johor–Riau Islands), Thailand, Japan, and Hong Kong, directly underpinning the region's capacity to host next-generation AI and hyperscale workloads. A potential dual listing on both US and Singapore exchanges would be a significant endorsement of SGX's ambitions as a capital markets hub. For institutional investors across APAC, DayOne represents a rare liquid-access vehicle to the region's data centre build-out — but the GDS governance question and the pace of US regulatory scrutiny of Chinese-linked infrastructure assets will be central to how the IPO is ultimately priced.

India is not a current DayOne operating market, but the company's IPO trajectory is directly relevant to Indian investors and policymakers for two reasons. First, the valuation premium DayOne is commanding — targeting US$20 billion on roughly 1GW of secured commitments — sets a benchmark that Indian hyperscale data centre developers and their backers will cite in future fundraising conversations. India's own data centre build-out, estimated at US$100 billion over the coming decade, is accelerating, and DayOne's capital markets story provides a comparable for how APAC digital infrastructure assets can be valued and exited.

Second, the Indonesia Investment Authority's participation in DayOne's Series C is a signal that ASEAN sovereign funds are actively co-investing in cross-border digital infrastructure platforms. India's own sovereign infrastructure vehicles, including the National Investment and Infrastructure Fund, are watching comparable deal structures as they evaluate how to attract and deploy capital into AI-ready capacity. The DayOne IPO, if successful, could catalyse a new wave of institutional interest in the broader APAC digital infrastructure asset class in which India is a major — if still emerging — player.

Why India's Data Centre Investors Are Watching the DayOne IPO Closely

Singapore sits at the centre of DayOne's investment story in two ways: it is the company's legal and operational headquarters, and it is under consideration as one of two listing venues for an IPO that could raise US$5 billion. A dual listing on SGX alongside a US exchange would be the highest-profile test yet of Singapore's revamped listing framework and its pitch to global tech infrastructure companies. DayOne's SIJORI corridor strategy — anchoring capacity across Singapore, Johor, and Batam — also positions Singapore as the command layer of a distributed compute region, reinforcing its role as Southeast Asia's de facto digital capital.

For Singapore-based fund managers and family offices, the IPO would offer direct equity access to a company whose physical footprint is literally adjacent to the financial district. However, the GDS governance overhang — with founder William Huang chairing both the GDS and DayOne boards — is a risk that Singaporean institutional investors will need to price carefully, particularly given growing global scrutiny of Chinese-linked entities operating critical digital infrastructure in allied nations.

DayOne's $5B IPO Could Be Singapore's Biggest Tech Listing Moment in a Decade

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DayOne raised $2B in January and filed confidentially for a $5B US IPO in March. Here's what the deal structure, GDS ties, and 1GW pipeline mean for APAC investors.

$20B valuation: Singapore data centre eyes US IPO

The APAC hyperscale data centre operator is targeting one of the largest tech listings of 2026, backed by sovereign capital and AI infrastructure demand.

DayOne's consideration of a dual listing in both the US and Singapore is more than a financing footnote — it is a live referendum on whether SGX can anchor marquee technology listings in competition with New York. Singapore's Monetary Authority has been actively courting high-growth tech companies to list locally, and a DayOne dual listing would be the largest validation of that effort in years. The company's SIJORI corridor expansion — straddling Singapore, Johor, and Batam — also makes it a structurally cross-border ASEAN asset, with regulatory, power, and land dependencies spread across three jurisdictions.

For APAC-based limited partners and institutional investors, the IPO will create the first large-scale, publicly traded pure-play on Southeast Asian AI infrastructure. Prior to DayOne, exposure to this theme was primarily available through GDS Holdings' Nasdaq and Hong Kong listings, or via private rounds inaccessible to most fund managers. The company has raised nearly US$4 billion in equity since its Series A in 2024, and a successful IPO at a US$20 billion valuation would represent a roughly 100% step-up from the implied Series C price — a return profile that will draw intense scrutiny of its 1GW secured commitment pipeline and whether contracted revenue underpins the multiple.

A potential dual listing and a $20B valuation target could define SGX's relevance in the global AI infrastructure investment wave.

DayOne's IPO Ambition Is a Stress-Test for Singapore as a Capital Markets Hub

Singapore's DayOne Eyes $20B US IPO After Record $2B Series C

DayOne Data Centers Limited, an independent, Singapore-headquartered hyperscale data center platform, announced it has entered into definitive agreements for over US$2.0 billion dollar Series C equity financing, marking one of the largest private capital raises in the data center sector. This round was led by existing global investor, Coatue, and supported by additional leading institutions, including the Indonesia Investment Authority (INA), Indonesia's sovereign wealth fund. The funding, completed in early January, drew investors from the United States, Europe and Asia-Pacific.

The financing builds upon the aggregate $1.9 billion that DayOne previously raised across its Series A and Series B equity rounds in 2024, as well as the up to €1 billion ($1.17 billion) mezzanine debt facility secured in 2025 from Brookfield and a sovereign investor. The company was spun out from Chinese data center giant GDS Holdings as an independent entity in 2024. The company's portfolio currently comprises more than 500MW of data center capacity in service and under construction, and more than 500MW held for future development across sites in Hong Kong, Singapore, Malaysia (Johor), Indonesia (Batam), and Japan (Tokyo).

In Asia-Pacific, the capital will be deployed to support the continued scale-out of DayOne's footprint across the SIJORI (Singapore–Johor–Riau Islands) region—comprising Singapore, Johor and Batam—as well as markets in Thailand, Japan and Hong Kong, enhancing DayOne's ability to deliver high-density, AI-ready capacity with speed and sustainability. These investments will strengthen delivery across DayOne's secured customer commitments of approximately 1GW, reflecting one of the fastest growth trajectories among next-generation hyperscale infrastructure platforms. The funding arrives as demand for AI compute infrastructure surges across APAC, with hyperscale cloud providers racing to secure data center capacity.

The capital will be deployed to support the continued scale-out of DayOne's footprint across the SIJORI (Singapore–Johor–Riau Islands) region—comprising Singapore, Johor and Batam—as well as markets in Thailand, Japan and Hong Kong. Singapore's strategic location and supportive regulatory environment continue attracting major data center investments, with the city-state serving as the regional headquarters for hyperscale operations across Southeast Asia.

Singapore Cements Position as Regional Data Hub

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DayOne's record-breaking funding drives aggressive Asian expansion in AI-ready infrastructure, with new campuses across SIJORI region.

$2 billion raises bar for APAC data center funding wars

Led by Coatue and Indonesia's sovereign fund for hyperscale AI infrastructure expansion.

Together, these two deals accounted for more than $2.1B, roughly 70% of all APAC cleantech venture capital in the quarter. It's become the norm the world over, with much of the world's focus narrowing to the thematic imperative of securing AI infrastructure capabilities. DayOne's raise represents the largest data center funding round in APAC this year.

Robert Yin, General Partner & Head of AI Infrastructure at Coatue, said: "DayOne continues to rapidly expand its data center platform in APAC and Europe, exceeding our expectations and delivering on strong demand for AI and hyperscale infrastructure." The involvement of sovereign wealth funds like Indonesia's INA signals government recognition of digital infrastructure as critical economic enabler across the region.

Regional demand for AI infrastructure drives record-breaking private capital deployment.

APAC Data Centers Enter New Funding Era

Singapore Data Giant DayOne Secures $2 Billion Series C

Singapore-based DayOne Data Centers has closed a $2.0 billion Series C equity financing, marking one of the largest private capital raises in the data center sector. This round was led by existing global investor, Coatue, and supported by additional leading institutions, including the Indonesia Investment Authority (INA), Indonesia's sovereign wealth fund. The deal represents a strategic deepening of partnerships across APAC's digital infrastructure landscape.

The massive funding round comes as DayOne specializes in the design and engineering of prefabricated high-performance compute modules that can be deployed as standalone facilities. The DayOne deal shows a shifting of perceptions in APAC, with INA, Indonesia's sovereign wealth fund, willing to put national-level backing behind a data center company. This marks a significant milestone in sovereign wealth fund participation in critical digital infrastructure projects across the region.

The Series C will accelerate DayOne's expansion across key APAC markets. In Asia-Pacific, the capital will be deployed to support the continued scale-out of DayOne's footprint across the SIJORI (Singapore–Johor–Riau Islands) region—comprising Singapore, Johor and Batam—as well as markets in Thailand, Japan and Hong Kong. These investments will strengthen delivery across DayOne's secured customer commitments of approximately 1GW, reflecting one of the fastest growth trajectories among next-generation hyperscale infrastructure platforms.

DayOne's record Series C reinforces Singapore's position as the premier data center headquarters for APAC expansion. The capital will be deployed to support the continued scale-out of DayOne's footprint across the SIJORI (Singapore–Johor–Riau Islands) region, leveraging Singapore's strategic location and regulatory framework to anchor regional growth. The deal positions Singapore-based operators to capture increasing demand for AI-ready infrastructure across Southeast Asia.

Singapore Cements Role as APAC Data Center Hub

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How Singapore's DayOne secured record funding from Indonesia's sovereign wealth fund for AI infrastructure expansion across Thailand, Japan and Hong Kong.

$2B Series C Marks Largest APAC Data Center Funding Round

Singapore-based AI infrastructure firm secured massive funding from Coatue and Indonesia's sovereign wealth fund.

The participation of Indonesia's sovereign wealth fund in DayOne's record Series C marks a broader trend of government-backed investment in critical digital infrastructure across APAC. INA's partnership with DayOne began with a shared conviction that digital infrastructure is a critical enabler of long-term economic competitiveness.

This strategic alignment reflects APAC governments' recognition that AI-ready data center capacity has become essential national infrastructure. Across the region's largest deals, government-backed funds, state-owned banks, and sovereign investors showed up repeatedly, indicating a coordinated approach to securing technological sovereignty in the AI era.

Indonesia's wealth fund participation signals growing government support for AI infrastructure across the region.

APAC Digital Infrastructure Gets Sovereign Backing Boost

DayOne Data Centers Raises Record $2 Billion Series C

Singapore-headquartered hyperscale data center platform DayOne Data Centers announced on January 5, 2026, that it closed over $2.0 billion in Series C equity financing, marking one of the largest private capital raises in the data center sector. The round was led by existing global investor Coatue, with participation from Indonesia Investment Authority (INA), Indonesia's sovereign wealth fund, among other leading institutions. The financing attracted a broad base of global investors from the United States, Europe and Asia-Pacific, further diversifying DayOne's shareholder base and strengthening its international expansion capabilities.

The capital will be deployed to support continued scale-out of DayOne's footprint across the SIJORI (Singapore–Johor–Riau Islands) region—comprising Singapore, Johor and Batam—as well as markets in Thailand, Japan and Hong Kong, enhancing DayOne's ability to deliver high-density, AI-ready capacity. These investments will strengthen delivery across DayOne's secured customer commitments of approximately 1GW, reflecting one of the fastest growth trajectories among next-generation hyperscale infrastructure platforms. DayOne started as GDS International in 2022 to house GDS Holdings' non-China assets, before being renamed and gaining independence in January 2025.

The surge in AI usage and concentrated investing in AI companies requires infrastructure and 'picks and shovels' to enable deployment, with data centers representing another critical piece alongside AI chip companies that have fetched rich premiums in public markets. This capital raise highlights how data center investment has become central to national and regional digital competitiveness, with investors' willingness to commit large sums signaling belief that scalable, resilient infrastructure will be critical in supporting next-generation digital services globally. DayOne is targeting a $20 billion IPO valuation, with its current 24% stakeholder GDS Holdings potentially enjoying a $5 billion payday.

Indonesia Investment Authority (INA), Indonesia's sovereign wealth fund, was among the leading institutions supporting DayOne's $2 billion Series C financing round. INA CEO Ridha Wirakusumah stated that the partnership began with shared conviction that digital infrastructure is critical for long-term economic competitiveness, with the Series C investment deepening their partnership at the global platform level.

The capital will support DayOne's continued expansion across the SIJORI region, including Batam in Indonesia's Riau Islands, as part of the company's strategy to deliver high-density, AI-ready capacity across Southeast Asia. DayOne's Batam facilities, located just 20 kilometers from Singapore, deliver cost efficiency and seamless submarine cable connectivity within a business-friendly Special Economic Zone.

Indonesian Sovereign Fund Backs Regional Data Center Growth

Setting the benchmark for precision-engineered data centers, DayOne's facility in Singapore is pioneering cutting-edge SOFC power generation technology to deliver energy-efficient, high-density capacity from Asia's leading digital hub. The participation of investors from the United States, Europe and Asia-Pacific aligns closely with DayOne's development strategy and focus on Asia-Pacific and Europe, reinforcing Singapore's role as a regional financial and technology center.

DayOne's SIJORI model creates a first-of-its-kind digital platform integrating Singapore with neighboring Johor and Batam, leveraging Singapore's connectivity advantages while accessing cost-efficient resources in Malaysia and Indonesia's business-friendly expansion ecosystem.

Singapore Cements Position as APAC Data Center Hub

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Singapore hyperscale platform secures record funding to fuel AI infrastructure across Southeast Asia and beyond.

Asian startup funding reached $27.4 billion in Q1 2026, up 20% from the prior quarter and nearly double year-ago levels, hitting its highest level in more than three years. The quarter's largest late-stage round was DayOne's $2 billion Series C, representing a significant portion of the $11.7 billion in later-stage and technology-growth deals across Asia.

DayOne's proprietary hub-and-spoke SIJORI model integrates Singapore, Johor and Batam into a regional infrastructure network that draws on Singapore's world-leading connectivity, Johor's cost-efficient resources, and Batam's business-friendly ecosystem. Through high-density, liquid-cooling designs, renewable power pathways, and rapid-deployment prefabricated models supported by strong utility partnerships, DayOne is positioned to deliver scalable, resilient infrastructure across markets.

DayOne's $2B raise reflects growing demand for AI-ready capacity across Southeast Asia.

Record Funding Signals APAC's Data Center Infrastructure Boom

DayOne Closes $2B Series C for APAC Data Center Expansion

DayOne Data Centers, the Singapore-headquartered hyperscale data center platform, closed definitive agreements for over $2.0 billion in Series C equity financing in January, marking one of the largest private capital raises in the data center sector. The round was led by existing investor Coatue and supported by Indonesia Investment Authority (INA), Indonesia's sovereign wealth fund. The Series C attracted global investors from the United States, Europe and Asia-Pacific, further diversifying DayOne's shareholder base and aligning with its development strategy focused on Asia-Pacific and Europe. The funding will strengthen delivery across DayOne's secured customer commitments of approximately 1GW, reflecting one of the fastest growth trajectories among next-generation hyperscale infrastructure platforms.

This was not DayOne's first major investment haul, as the company had previously raised $1.9 billion across its Series A and Series B deals in 2024, and secured a debt facility of up to €1 billion from Brookfield Asset Management and an unnamed sovereign investor in 2025. DayOne began life as GDS International, formed in 2022 to house the non-China assets of GDS Holdings, China's largest data center operator. GDS International raised its $587 million Series A from funds including Hillhouse and Boyu Capital before completing a $1 billion Series B at the end of 2024 and rebranding to DayOne in January 2025.

The capital will be deployed to support continued scale-out across the SIJORI (Singapore–Johor–Riau Islands) region and markets in Thailand, Japan and Hong Kong, enhancing DayOne's ability to deliver high-density, AI-ready capacity. In Europe, proceeds will advance development of DayOne's Finland platform, centered on major hyperscale campuses in Lahti and Kouvola. With DayOne targeting a $20 billion IPO valuation, its former parent GDS Holdings' estimated 24% stake could be worth $5 billion, creating significant returns for early investors betting on AI infrastructure demand.

Indonesia Investment Authority (INA), Indonesia's sovereign wealth fund, was among the key participants supporting DayOne's record Series C funding round alongside global investors. INA CEO Ridha Wirakusumah emphasized that the partnership began with shared conviction that digital infrastructure is a critical enabler of long-term economic competitiveness, with this Series C investment representing a deepening of partnership at the global platform level. DayOne's Batam facilities, located just 20 kilometers from Singapore, deliver cost efficiency and seamless submarine cable connectivity within Indonesia's business-friendly Special Economic Zone, positioning the nation as a key node in Southeast Asia's digital infrastructure backbone.

Indonesian Sovereign Fund Backs Regional Digital Strategy

DayOne's Singapore facility is setting the benchmark for precision-engineered data centers, pioneering cutting-edge SOFC power generation technology to deliver energy-efficient, high-density capacity from Asia's leading digital hub. The company's proprietary SIJORI (Singapore-Johor-Riau Islands) model creates a first-of-its-kind digital platform integrating Singapore's world-leading connectivity with neighboring Malaysia and Indonesia, establishing a future-ready regional infrastructure network. This massive funding reinforces Singapore's strategy as the digital infrastructure gateway for Southeast Asia's growing AI and cloud computing demands.

Singapore Cements Position as Regional Data Hub Leader

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Data center operator closes largest private funding round in sector history.

As global demand for AI and cloud infrastructure accelerates, customers are increasingly looking for partners that can deliver at scale, with speed and sustainability across multiple regions, strengthening the need for high-performance, AI-ready capacity. The surge in AI usage, visible in increased spending from tech giants and concentrated investing in AI companies, only delivers results if the infrastructure and 'picks and shovels' are there to enable it, with AI chip companies fetching rich premiums and data centers being another critical piece.

DayOne is at least the third data center operator to have closed a 10-figure funding round in the past six months, following Lambda Inc.'s $1.5 billion raise in November and Nscale Global Holdings' $1.1 billion from a consortium including Nvidia and Dell Technologies. Despite concerns about AI's huge billing, investment in AI infrastructure including hyperscale data centers has continued unabated, with quarterly hyperscale operator capex rocketing by almost 180% over the last three years to reach $142 billion in Q3 2025.

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