🧠 Food for thought

Implications, context, and why it matters.

DayOne’s valuation rests on AI-ready data centers and fast expansion

• DayOne says it has customer commitments for about 1 gigawatt of capacity, giving it a large pipeline before projects come online 1.
• Its data centers are built for AI work, with liquid cooling for dense Nvidia chip racks and prefabricated modules that the company says can add the equivalent of 500 megawatts a year 2.
• That buildout is centered in Finland and Batam, Indonesia, an Indonesian island near Singapore. The Batam expansion is backed by a power purchase agreement for about 450 megawatts 3.
• Its latest financing round came in at a 100 percent premium to the previous round, a sign that investors are willing to pay more for the business 4.

A potential dual listing would move DayOne toward public-market funding

• A Singapore-US initial public offering would be a new step for DayOne. The company rebranded from GDS International in January 2025 after separating from Shanghai-based GDS Holdings, which still owns a minority stake 5.
• The dual listing could help DayOne draw more Western investors, keep close ties with partners such as Nvidia, and grow further in Asia 3.
• Support from sovereign wealth funds and state-owned investors, including the Indonesia Investment Authority, Indonesia’s sovereign wealth fund, gives the company backing that can help fund expensive digital infrastructure projects 1.
• If it works, the IPO could offer a model for other AI infrastructure companies that need large amounts of capital and want another route beyond private funding rounds 2.