Data center firm Switch confidentially files for US IPO, Bloomberg News reports

On Friday, Bloomberg News reported that data center firm Switch filed a confidential application for a U.S. initial public offering (IPO), according to sources familiar with the situation. Earlier, Reuters had disclosed that the company might seek to raise up to $10 billion during the fourth quarter, with an estimated valuation near $80 billion, including debt.

Switch declined to comment on the Bloomberg report when contacted by Reuters. The company's operations involve the management of large-scale data center campuses that supply essential power, cooling, and connectivity for AI computing. This infrastructure supports cloud providers and enterprises in deploying GPU clusters essential for training and running AI models.

The demand for such facilities has been on the rise due to companies' substantial investments in AI, which has heightened interest in data center operators and other entities that sustain the technological backbone of AI.