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Freedom251 › Blog › AI infrastructure

Singapore data-centre developer DayOne’s billings surpass 1GW

By Freedom251 Team · · 5 min read

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DayOne Data Centers said on 14 October 2026 that its total billings had exceeded 1GW, up from 121MW at the end of 2024. The figure represents income-generating IT power capacity committed under legally binding customer contracts—not the electricity its facilities physically consume.

What the 1GW milestone means

DayOne defines billings as the total IT power capacity committed by customers that is income-generating under the terms of legally binding contracts still in effect. In practical terms, more than 1GW of capacity across DayOne’s portfolio is tied to contracts that have reached the company’s billing stage.

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The measure rose more than eightfold from 121MW at the end of 2024. Reuters reported the same comparison. Because the metric is based on contracted IT power, it should not be read as a measurement of instantaneous grid draw, total electricity consumed, or the nameplate capacity of operating buildings.

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DayOne has not published an independent audited reconciliation showing how the 1GW billing figure maps to physical operating capacity. The company’s disclosure therefore supports a statement about contracted, income-generating capacity rather than a claim that 1GW is already running in live facilities.

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Billings, bookings, reservations and resources are different measures

DayOne reports several capacity indicators. They describe different points in the development and customer-commitment pipeline and should not be added together.

Measure Latest figure DayOne’s definition How to interpret it
Billings More than 1GW, announced 14 October 2026 IT power capacity committed by customers that is income-generating under legally binding contracts remaining in effect. Contracted capacity at the income-generating stage; not a direct measure of electricity consumed.
Bookings Approximately 2.3GW as of 20 September 2026 Total IT power capacity committed by customers under legally binding contracts. A broader contracted-capacity measure than billings in DayOne’s reporting; the two figures also have different measurement dates.
Reservations 1.1GW as of 20 September 2026 Capacity reservations excluded from bookings, billings and backlog. Potential future demand. DayOne says there is no assurance customers will exercise reservations or that they will generate revenue.
Resources 4.6GW as of 20 September 2026 Capacity in service, under construction and on secured powered land. The development resource base, not contracted revenue and not all operational capacity.

Bookings had reached about 2.3GW by 20 September 2026, compared with 1.25GW at the end of 2025. Reservations stood at 1.1GW on that date. Resources increased to 4.6GW from 2GW at the end of 2025. The figures indicate the scale of DayOne’s contracted pipeline and development holdings, but reservations remain contingent and resources include projects that are not yet built.

Why Malaysia financing is central to the expansion

The milestone followed an expansion of DayOne’s senior secured, multi-currency syndicated term financing for Malaysia to approximately US$7.2 billion. DayOne said the facility was arranged by a seven-lender consortium and builds on roughly US$3.5 billion of syndicated financing secured in May 2025.

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Reuters described the incremental financing as RM15 billion, or about US$3.68 billion, bringing the total Malaysia financing to the approximately US$7.2 billion figure. The funding supports hyperscale data-centre expansion in Johor, where large cloud and artificial-intelligence customers require substantial blocks of power and floor space.

US$7.2 billion is financing capacity for the Malaysia platform. It is not DayOne revenue, profit, or a valuation of the company. A senior secured structure also means the borrowing is backed by specified assets or cash flows under the lending agreements; the announcement does not, by itself, establish how quickly all the capacity will be deployed.

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DayOne’s footprint spans 10 markets

DayOne says it was established in 2022 and now operates across 10 Asia-Pacific and European markets:

  • Singapore
  • Johor and Greater Kuala Lumpur in Malaysia
  • Indonesia
  • Thailand
  • Tokyo and Kyushu in Japan
  • Hong Kong SAR
  • Finland
  • Spain

This multi-market footprint matters when interpreting the 1GW announcement: the billing total is presented for DayOne’s overall platform, not as a Singapore-only or Malaysia-only figure. Capacity, construction status, customer contracts and delivery dates can differ substantially between those markets.

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Singapore project: 20MW facility targeted for Q1 2027

DayOne’s first Singapore data centre is a separate, smaller project within that regional strategy. DBS announced on 18 August 2026 that DayOne had secured a four-year SGD530 million green loan from DBS, OCBC and UOB for the facility.

  • Location: Western Singapore
  • Planned IT capacity: 20MW
  • Construction: Groundbreaking took place in July 2025
  • Target opening: Operational in the first quarter of 2027
  • Financing: Four-year SGD530 million green loan

DBS says the project is intended to demonstrate on-site solid-oxide fuel-cell power using hydrogen-related energy solutions. The design also includes vertical building-integrated photovoltaics and hybrid air-and-liquid cooling. These technologies are intended to address Singapore’s constrained land and power environment while improving energy efficiency, although the announcement does not provide operating-performance results.

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What the numbers say about DayOne’s pipeline

The most meaningful change is the speed of contracted growth: billings moved from 121MW at the end of 2024 to more than 1GW in October 2026, while bookings reached about 2.3GW by 20 September 2026. Those figures show that customer commitments have expanded rapidly, but they do not mean every booked megawatt is already commissioned or generating income.

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The 1.1GW reservation figure should be treated more cautiously. DayOne explicitly excludes reservations from bookings, billings and backlog and gives no assurance that customers will exercise them. Resources are broader still, because secured powered land can be counted before construction or customer contracting.

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For comparisons with other developers, the definitions must match. A competitor’s physical megawatts in operation cannot be compared directly with DayOne’s billings unless both companies measure the same thing under equivalent contract and capacity rules. Useful comparison axes include billing stage, bookings and reservations, in-service versus construction capacity, secured land, financing structure, customer concentration, geographic spread, delivery schedules and power-efficiency technology.

Statements from DayOne and its lenders

DayOne chief executive Jamie Khoo said the confidence of banking partners and customers had enabled the company to unlock capacity for the next generation of AI and cloud infrastructure, with a focus on delivering capacity “at speed and scale” in the markets customers need. Khoo also described Singapore as the place where DayOne was founded and said the company was delivering high-specification facilities across Asia-Pacific and Europe.

DBS Group head of institutional banking Han Kwee Juan said accelerating demand for digital infrastructure, driven by AI and cloud computing, was increasing energy consumption and the need for more energy-efficient infrastructure. That context explains both the scale of the Malaysia financing and the emphasis on fuel cells, photovoltaics and liquid cooling in Singapore.

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AI infrastructureCloud ComputingData CentresDayOneenergy efficiencyMalaysiaSingapore

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