Singapore’s DayOne Pushes Ahead With Data Center IPO Tied to TikTok

DayOne Data Centers, a Singapore-based data center operator gearing up for a multibillion-dollar initial public offering in New York, is little known to most U.S. investors. But its business is built on a much better known company: ByteDance. The TikTok parent company accounts for nearly 70% of DayOne’s revenue, according to two people with knowledge of DayOne’s operations. DayOne, which started as a Chinese data center company’s overseas business unit four years ago, has benefitted greatly...