Abu Dhabi's MGX is exploring a takeover of Singapore-based data center operator DayOne, potentially derailing the company's planned US IPO at a $20 billion valuation announced last month.
MGX, an artificial intelligence investment vehicle backed by Abu Dhabi's government, has begun acquisition discussions with DayOne, according to sources familiar with the matter.
The move comes just weeks after DayOne signaled plans to go public in the US at a $20 billion valuation. An acquisition by MGX would represent a significant shift in the data center operator's strategy.
DayOne operates data center infrastructure across Asia, positioning itself as a key player in the region's growing AI and cloud computing markets. The company has attracted significant investor interest amid surging demand for computing capacity.
MGX has emerged as a major player in AI infrastructure investments, channeling billions toward companies supporting artificial intelligence development and deployment. The potential acquisition would expand MGX's portfolio into the critical data center space.
No deal has been finalized, and discussions remain exploratory. Neither DayOne nor MGX immediately commented on the acquisition talks.
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