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Startups & Venture·October 9, 2026·1 min read

DayOne In Early Talks With Banks for Potential $500 Million Bond

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A $500 million bond for a Singapore data center operator is another data point that AI infra is migrating from equity-fueled growth to balance-sheet financing. If your AI roadmap depends on third-party capacity in Asia, start underwriting counterparty credit risk the way you would a utility, not a startup.

Startups & Venture

Firmus Is Said to Explore Raising $3 Billion After Shelving IPO

A hyperscale data center operator walking away from one of Australia’s largest prospective IPOs to chase $3 billion in private capital says more about capital structure than demand—AI infra is still bankable, but operators want flexibility over quarterly scrutiny. If you’re building in this stack, assume private rounds and structured deals, not public markets, will fund the next build cycle.