DayOne Data Centers files for Nasdaq IPO under ticker DODC

Investing.com -- DayOne Data Centers Limited, a developer of large-scale computing infrastructure outside the United States and China, has filed a Form F-1 registration statement with the U.S. Securities and Exchange Commission to list its American depositary shares on the Nasdaq Stock Market under the ticker "DODC."

The Singapore-headquartered platform, founded in 2022, is tapping public equity markets to support a rapidly expanding pipeline of facilities designed to house artificial intelligence and cloud workloads. Morgan Stanley, J.P. Morgan, BofA Securities, Citigroup, and BNP Paribas are underwriting the proposed offering.

The company's expansion reflects an aggressive push to secure power and land capacity across high-growth international hubs, led by its dominant position in the SIJORI corridor encompassing Singapore, Johor in Malaysia, and Batam in Indonesia. DayOne holds a 33% market share in SIJORI based on bookings, generating 87.0% of its total revenue from Malaysia during the six months ended June 30, 2026.

Top-line momentum accelerated sharply through the first half of 2026, driven by continuous capacity deployments for major hyperscale technology firms. Revenue reached $512.0 million for the six-month period ended June 30, 2026, compared to $151.5 million in the prior-year period, while full-year 2025 revenue stood at $484.3 million.

Despite top-line expansion, scaling costs and stock-based compensation continue to weigh on profitability. DayOne reported a net loss of $77.2 million for the first six months of 2026, narrowed from a full-year net loss of $367.1 million in 2025 that was heavily impacted by $341.8 million in total share-based compensation charges.

The platform's operational scale relies on long-term take-or-pay agreements with global technology customers, providing predictable cash flows alongside heavy capital commitments. As of September 20, 2026, DayOne held 2.3 gigawatts of customer bookings and operated 962 megawatts of capacity in service, backed by 4.6 gigawatts of secured resources across ten global markets.

Completing its existing bookings will require substantial additional capital as the company broadens its footprint into Europe and Japan. Management estimates the capital needed to complete current customer commitments stands at $11.4 billion beyond investments made through June 30, 2026, with planned projects targeting development yields in the mid-teens.

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