Singapore data center operator DayOne has filed an IPO prospectus with the US Securities and Exchange Commission, aiming to list on Nasdaq under the ticker DODC while planning to more than double its active capacity to 2.3GW within two years.

The filing, submitted this week, lands amid a boom in demand for data center capacity driven by AI workloads. DayOne joins a cohort of operators turning to public markets to fund aggressive buildouts.

What do the filings reveal about capacity?

The prospectus discloses 962MW of capacity in service as of September 20, up from 675MW in June. That marks a 42% increase in three months.

The construction pipeline is larger still. DayOne reports 1.3GW under construction, compared to 1.1GW in June, and expects to deliver this capacity by December 2028. The buildout underpins the 2.3GW target.

How fast is revenue growing — and where are the losses?

Revenue reached $512 million for the six months to the end of June 2026, up from $151 million in the same period of 2025 — a 239% increase as new capacity came online.

Profitability has not followed. The company posted a net loss of $77 million over the last six months, compared with $12 million a year earlier. Expansion costs are outrunning income as the operator races to bring capacity to market.

Who is DayOne and where does it operate?

The company formerly served as the international business unit of Chinese data center operator GDS. It spun out as an independent company last year.

Its footprint spans five Asian markets:

• Hong Kong
• Singapore
• Malaysia (Johor)
• Indonesia (Batam)
• Japan (Tokyo)

DayOne recently broke ground on a site in Thailand and another in Singapore. It moved beyond Asia for the first time last year, announcing a campus in Lahti, Finland. A 300MW facility is in the works in Spain.

How much does the company want to raise?

DayOne has not disclosed its fundraising target in the prospectus. Reuters reported in February that the company was aiming to raise $5 billion at a $20 billion valuation.

Rumors of the IPO first surfaced in January. If the float proceeds at that scale, DayOne would rank among the largest data center listings to date.

The company has not commented publicly beyond the filing. The prospectus itself sets out the capacity, revenue and loss figures above, and Nasdaq listing under DODC remains subject to regulatory process and market conditions.