Cloud provider DigitalOcean is raising $800 million in an underwritten offering to expand its infrastructure capacity. The offering, which includes over 10.38 million shares, was increased from $700 million on March 25 and is expected to close March 26. The company plans to use the funding to invest in additional capacity beyond its current communications.

This expansion comes as DigitalOcean seeks to meet growing demand for its cloud and AI platform. The funding will also help pay down existing loans and support general corporate purposes. While specific expansion details weren't provided, DigitalOcean said it's in "advanced discussions" to secure additional data center capacity.

DigitalOcean currently operates 14 data centers across 11 regions worldwide, including major markets in the US, Canada, Europe, Asia, and Australia. The company previously deployed GPU offerings at multiple sites, including its Atlanta facility, and offered $550 million in convertible senior notes in August 2025. Founded in 2011, DigitalOcean continues to position itself as a competitive player in the cloud infrastructure market.