HK Stock Market Move | GDS-SW (09698) rose more than 6% as reports indicate that DayOne has submitted a confidential IPO application in the United States.

GDS-SW (09698) rose over 6%, up 6.24% to HK$32.36 as of press time, with a transaction volume of HK$20.7886 million. On the news front, it has been reported that DayOne, a data center operator under GDS Holdings, has submitted an application for an initial public offering in the United States through a confidential process, with expectations to go public as early as the fourth quarter of this year, aiming to raise approximately $5 billion. Earlier reports suggested that DayOne targets a listing valuation of around $20 billion. In addition, CoreWeave, a major player in AI cloud services on the U.S. stock market, released its second-quarter financial report for the 2026 fiscal year. Total revenue reached $2.58 billion, a year-on-year increase of 112%, with adjusted operating profit of $128 million exceeding market expectations. CoreWeave also raised its guidance for the third quarter and for fiscal year 2026, further increasing its capital expenditure forecast, with a backlog of orders reaching $104 billion.