DayOne raises $4.5B at $20B to build AI-ready data centers across Asia

The $4.5B came in two stages. A first close of about $2B arrived in January, and roughly $2.5B followed by June. Coatue and Hillhouse led both stages and are now the two largest shareholders. Neither the company nor its investors disclosed an official valuation. The $20B figure comes from press reports, and the January close was reportedly near $10B. DayOne has more than 1.5GW of capacity bookings. About 500MW is in service or under construction, and another 500MW is held for future development. Sites include Hong Kong, Singapore, Johor, Batam and Tokyo, plus a Finland campus. The company is also reportedly negotiating a corporate loan of up to $7B. Next is a listing. DayOne filed confidentially for a Nasdaq IPO of about $5B under the ticker DODC. The F-1 shows one customer accounted for 69% of 2025 revenue, which rose to $484M. Rivals Switch and Nscale are also lining up listings. For AI founders, GPU and inference capacity in Asia is being financed at very large scale, which should ease supply in Singapore, Malaysia, Japan and Indonesia. The customer concentration shows the capacity is largely pre-sold to hyperscalers, so smaller companies may still end up renting through cloud providers instead of contracting directly.