Abu Dhabi’s MGX weighs multi-billion deal for data centre operator DayOne

Abu Dhabi-backed artificial intelligence investor MGX has been exploring buying Singapore-based data centre operator DayOne, three sources said, in what would mark a major step in its global expansion into the technology.

MGX has been working with an investment bank in preparation for the potential transaction, said two of the sources, who declined to be identified because the discussions ‌are confidential.

DayOne has ⁠been ⁠planning a U.S. initial public offering targeting a valuation of $20 billion, Reuters has reported, a price that MGX may ​not be willing to match, two of the sources said.