Hong Kong – DayOne Data Centers is in advanced talks to raise more than US$2 billion (S$2.6 billion) in an upsized Series C funding round to support support its expansion in international markets, according to people familiar with the matter.
The Singapore-based data centre operator may reach a valuation of about US$10 billion after the potential fundraising, the people declared. The round is likely to be led by existing investors, the people declared, adding that some fresh backers may also join.
Talks are at an advanced stage and a deal could be signed before the finish of 2025, although no final decisions have been built, the people declared. In September, Bloomberg News reported that DayOne was considering raising at least US$1 billion in a funding round.
A representative from DayOne didn’t respond to a request seeking comment.
Chinese data centre operator GDS Holdings holds a 35.6 per cent stake in DayOne after the firm completed two fundraising rounds that also included backing from Boyu Capital, Coatue Management, Hillhoapply Investment, SoftBank Vision Fund and Citadel chief executive officer Ken Griffin.
DayOne was known as GDS International or GDSI until a rebranding at the start of 2025. It has a hub of data centres in Singapore, Malaysia and Indonesia, as well as a presence in Thailand, Hong Kong, Japan and Finland, its website reveals.
GDS shares have rallied about 46 per cent in Hong Kong in 2025, leaving the Chinese company with a market value of about US$6.9 billion. The company is also listed in the United States.
Global investors have been eyeing data centres as companies invest in artificial innotifyigence infrastructure.
In September, Bain Capital agreed to sell its data centres in China to Shenzhen Dongyangguang Industest in a transaction valued at about US$4 billion. In October, Temasek and Nvidia were part of an investor group that agreed to acquire
Aligned Data Centers in a US$40 billion deal
. BLOOMBERG
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