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DayOne Data Centers Ltd. is preparing to file confidentially for an IPO in the US, targeting approximately $5 billion in funding. The Singapore-based operator, previously known as GDS International, is working with Bank of America, Citigroup, JPMorgan Chase, and Morgan Stanley.

The draft registration with the US Securities and Exchange Commission may be submitted as early as this week, though the timing is subject to change. In January, DayOne raised over $2 billion in a Series C funding round led by Coatue Management to support its growth. The data center sector is currently attracting significant investment to support AI infrastructure.