Published Fri, Feb 13, 2026 · 06:52 PM
[SINGAPORE] DayOne Data Centers has selected banks to help arrange a US initial public offering (IPO) that may raise about US$5 billion, sources said.
The Singapore-based data centre operator has chosen JPMorgan Chase and Morgan Stanley to work on the share sale, they mentioned, asking to not be identified because the information is private.
Bank of America and Citigroup are also working on the deal, the sources added.
DayOne, backed by Chinese data centre operator GDS Holdings, has been targeting a valuation as high as US$20 billion in a listing that may take place as soon as this year, sources said.
Considerations are ongoing and other banks can still be added, they shared. Details including the size of the offering may change.
A representative for DayOne did not respond to a request seeking comment, while the banks declined to comment.
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
Data centres have become a popular sector, as companies and investors deploy capital into digital infrastructure needed to power artificial intelligence.
The US IPO market has been jolted over the past week as recently listed companies have suffered losses, threatening to darken the mood ahead of some major listings expected later in 2026.
Broker Clear Street Group cut its listing target recently and then postponed the deal altogether, just days after Brazilian fintech AGI pared its target too.
That comes as the Nasdaq 100 Index fell 4.6 per cent and shed about US$1.5 trillion in market value over the past 10 sessions, hit by a sell-off in software names and other service providers deemed at risk of disruption from new AI tools.
DayOne, previously known as GDS International or GDSI, closed a more than US$2 billion Series C funding round in January to support its international expansion. The round was led by existing investor Coatue Management.
DayOne runs data centres in countries such as Singapore, Tokyo and Finland, its website shows.
Other investors in the company include Boyu Capital, Hillhouse Investment and Citadel CEO Ken Griffin. BLOOMBERG
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
