November 3, 2025 09:35 AM GMT GDS Holdings Ltd | Asia Pacific 3Q25 Preview: Focus on Chipset and DayOne We forecast 10-11% YoY headline revenue and EBITDA growth for 3Q25E. We are more optimistic on new orders in 2026, supported by domestic capacity expansion. DayOne is likely to deliver another order beat. Key Takeaways All eyes on new NV chipset supply for China, rather than earnings. Last week's US/China meeting in South Korea made no immediate breakthrough in Nvidia's chipset shipments to China, but neg ...