Data Centre IPOs Heat Up Amid AI Infrastructure Boom

Data centre IPOs are gaining momentum as the demand for AI infrastructure continues to rise. Singapore's DayOne Data Centers has taken a significant step in this direction by confidentially filing for a $5 billion US initial public offering. ## DayOne Data Centers Files for $5 Billion US IPO DayOne Data Centers, which was spun off from China's GDS Holdings, has made significant strides in the data centre market. The company closed a $4.5 billion Series C round in June, led by Coatue Management and Hillhouse, and added new backers Achi Capital Partners and the Indonesian Investment Authority. Since 2022, DayOne has secured more than 1.5 gigawatts of capacity bookings across Asia Pacific and Europe. The company's decision to file for a $5 billion US IPO is a testament to its growth and potential in the data centre market. Bloomberg previously reported that DayOne was targeting a valuation of around $20 billion. The company's IPO could list as soon as next quarter, pending regulatory approval. ## CapitaLand Investment Lists $467 Million Shanghai REIT Singapore's CapitaLand Investment has listed its RMB3.15 billion ($467 million) China Commercial Private REIT on the Shanghai Stock Exchange. The REIT's seed asset, CapitaMall LuOne in Shanghai's Xintiandi precinct, spans more than 130,000 square metres of retail and office space designed by architect Moshe Safdie. The listing follows CapitaLand Investment's RMB4.81 billion Commercial C-REIT approval in June for a separate vehicle backed by Raffles City Shenzhen and CapitaMall Fucheng. The China Commercial Private REIT is China's largest private REIT sponsored by an international asset manager. ## Growthpoint Sells Perth Airport Warehouse to Hesperia for $189 Million Australia's Growthpoint has agreed to sell its Woolworths-leased Perth Airport warehouse to developer Hesperia for A$267.7 million ($188.9 million). The leasehold asset has been part of Growthpoint's portfolio since 2009 and totals 80,374 square metres with a 10.8-year weighted average lease expiry to its sole tenant. The sale is expected to deliver a 12 percent unlevered property internal rate of return, with settlement expected in early 2027 pending FIRB approval. The sale is a significant move for Growthpoint, which is looking to divest non-core assets and focus on its core business. The data centre market is expected to continue growing as the demand for AI infrastructure increases. DayOne Data Centers' decision to file for a $5 billion US IPO is a significant development in this market, and it will be interesting to see how the company performs in the coming months.