BDx Data Centers IPO, AI Expansion & $2B Valuation: The Latest

Key takeaway: Both an IPO and a sale remain active and competing possibilities. BDx has not committed to either path .

Financial Status: Private Company with Limited Disclosure

BDx is a private company and does not publish detailed financial statements. The available financial data comes from third-party estimates:

• Estimated Annual Revenue: Estimates range from roughly $12 million to $18.5 million as of 2025 . These figures are unverified and likely understate the business given the scale of its current operations.
• Total Known Funding: Approximately $155 million in known equity and debt (before the new $320 million loan) .
• Parent Valuation: I Squared Capital has been targeting a $2 billion valuation for BDx in its sale discussions, implying a strong underlying asset value built for future growth .

The company has prioritized raising debt for construction over disclosing its operational profit and loss, so precise profitability and cash flow figures are not publicly available.

AI-Driven Expansion: The Indonesia Build-Out

BDx's current strategy is a large-scale, AI-focused build-out concentrated in Indonesia, funded by significant debt and power agreements.

Landmark 1.2 GW Power Deal

On June 3, 2026, BDx announced the largest single data center power commitment in Indonesia's history: 1.2 GW of power supply agreements with the state utility PLN . This covers three facilities across Java:

• CGK4 AI Campus in Jatiluhur: Secured 788 MVA of grid power to support its flagship 500 MW campus .
• CGK3A in Cilandak: Successfully energized, expanding power capacity to 60 MVA .
• CGK5 in Suryacipta: Power agreements are in place to support this location, with 1.2 GVA of high-voltage grid capacity targeted .

The power will come online in stages and is expected to be fully consumed within two to three years as GPU deployments scale .

$320 Million Loan for AI-Ready Campus

In April 2026, BDx closed a $320 million loan facility led by Indonesian banks Bank Permata, BCA, and KB Bank . The funds are allocated to:

• Accelerating development of CGK3, an AI-focused data center campus in Jakarta's central business district .
• Refinancing existing debt on better terms .
• Funding high-voltage grid capacity upgrades at CGK4 and CGK5 .

CEO Mayank Srivastava noted that the decision to use Indonesian banks was a matter of "prudent capital structure optimisation" .

AI-First Facility Design

BDx's next-generation data centers are explicitly designed for AI workloads. Their flagship facilities are equipped with:

• Advanced liquid cooling to handle the high density of GPU clusters .
• NVIDIA GPU infrastructure .
• Renewable energy integration .

Regional APAC Reach

Beyond Indonesia, BDx operates data centers in Singapore and Hong Kong, with a strategy of building a "national AI infrastructure platform" in partnership with local utilities and governments . In May 2025, it secured project financing for its first hyperscale data center in Hong Kong from Clifford Capital, UOB, and Sumitomo Mitsui Banking Corporation .