DayOne’s next move in focus

ANY deal related to data centres (DCs) will come under the spotlight, and there will surely be questions about the direction Singapore-based DayOne Data Centers Ltd, which operates two sites in Johor as well as others across the Asia-Pacific region and Europe, is taking after it filed for a US listing on Aug 11, seeking a valuation of US$20bil.

The hyperscale DC operator has been busy this year.

It recently signed a conditional agreement to acquire three freehold parcels outside Kuala Lumpur, totalling 32ha, for RM618mil from Mah Sing Group Bhd.

It also completed a Series C funding round in early June, raising US$4.5bil in what was considered one of the largest funding rounds for a privately held DC operator.

The latest funding round, which started in early 2026, saw the entry of new investors including Indonesia’s sovereign wealth fund, the Indonesia Investment Authority.

Existing backers, including New York-based Coatue Management LLC and Singapore-based Hillhouse Investment Management Ltd, also participated after investing in the Series A and B rounds.

DayOne, spun off from US- and Hong Kong-listed GDS Holdings Ltd, an operator of DCs in China, could also become a takeover target despite its US listing plans.

Abu Dhabi-based MGX Fund Management Ltd is reportedly exploring a bid, according to a Reuters report in June.

Bloomberg reported earlier this year that DayOne was looking to double its corporate loan facility to US$7bil as part of plans to fund more DCs and prepare for the listing.

The coming months will surely bring more news on DayOne, whether it proceeds with the US listing or is acquired by MGX, which is said to be working with an investment bank on a potential deal.

Many will be watching how this affects DayOne’s existing operations and investment pipeline.