DayOne, a global data centre operator affiliated with GDS Holdings, one of China’s largest data centre firms, is seeking to raise more than $1 billion in a new funding round, according to four people familiar with the matter.
Previously known as GDS International, DayOne has approached both new and existing shareholders for its Series C fundraising. The fresh capital will accelerate its expansion plans across Southeast Asia and Europe, the sources said, requesting anonymity due to the confidential nature of the information.
According to two of the sources, the company could be valued between $4 billion and $5 billion before the new funds are injected. The company has reportedly reached out to global infrastructure funds and Middle Eastern sovereign wealth funds to participate in the round.
In an email statement on Thursday, it confirmed the equity fundraising, emphasizing that the initiative is independent of GDS. Although sources earlier reported that GDS was raising funds for its international arm, DayOne declined to comment on specific fundraising details, while GDS did not respond to requests for comment.
Shanghai-based GDS established GDS International in Singapore in 2022, later rebranding it as DayOne in January 2025 following its separation from the parent company. The business has already raised about $1.8 billion across two funding rounds in 2024, GDS said earlier.
Currently, DayOne’s investors include Hillhouse Investment, Boyu Capital, Coatue Management, and the SoftBank Vision Fund. GDS aims to develop DayOne further and eventually list it as an independent company, according to people familiar with the plan.
In its latest statement, it clarified that while GDS remains one of its founding investors, it operates under a distinct ownership and governance structure, with an independent management team, board, and investor base. Notably, GDS founder and CEO William Huang also serves as chairman of DayOne, according to the company’s website.
Following the $1.2 billion Series B round in December 2024, GDS’s stake in the company dropped to 35.6% from 52.7%, valuing its holding at around $1.3 billion, equivalent to roughly $6.75 per American Depositary Share of GDS. Consequently, GDS deconsolidated DayOne for accounting purposes, recognizing it as an equity investee since it no longer controls the board majority.
DayOne currently manages about 480 megawatts (MW) of operational or under-construction data centre capacity, with an additional 590 MW reserved for future projects in Hong Kong, Singapore, Malaysia, Indonesia, and Japan.
Furthermore, in August 2025, DayOne announced a €1.2 billion ($1.4 billion) investment to build a hyperscale data centre campus in Lahti, Finland, marking its first foray into Europe and reinforcing its position as a rapidly expanding global player.
