GDS-Backed DayOne Is Said to Eye $2 Billion in Upsized Deal (1)

DayOne Data Centers Ltd. is in advanced talks to raise more than $2 billion in an upsized Series C funding round to help support its expansion in international markets, according to people familiar with the matter.

The Singapore-based data center operator may reach a valuation of about $10 billion after the potential fundraising, the people said, asking not to be identified discussing confidential information. The round is likely to be led by existing investors, the people said, adding that some fresh backers may also join.

Talks are at an advanced stage and a deal could be signed before the end ...