GDS Holdings Ltd. is considering a US initial public offering of its GDS International business to raise about $500 million, according to people familiar with the situation.

The Chinese data center operator may try to list GDSI, which runs its facilities in Hong Kong and Southeast Asia, as soon as this year, the people said. GDS is in talks with banks about working on the IPO, they added, asking not to be identified discussing a private matter.

Deliberations are ongoing and may not lead to a deal, the people said. GDS didn’t respond to requests for comment.

Data centers are attracting strong interest from investors eager to gain from the artificial intelligence boom. Listed in both Hong Kong and the US, GDS’s shares have soared 400% over the past 12 months.

GDS raised $1.2 billion for GDSI in December from investors including SoftBank Vision Fund and Citadel Chief Executive Officer Ken Griffin, leaving it with a stake of about 35.6% in the unit.

Source: FINANCE.YAHOO