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

Switch, a data center firm, has filed confidentially for a U.S. initial public offering, according to Bloomberg News. The report, citing anonymous sources, suggests the company may raise up to $10 billion in its IPO, which could take place in the fourth quarter of the year. The valuation of Switch is estimated to be close to $80 billion, including debt.

The company operates extensive data center campuses that supply the necessary power, cooling, and connectivity for AI computing, allowing cloud providers and enterprises to deploy GPU clusters used for training and running AI models. As the demand for such infrastructure has skyrocketed, driven by companies' heavy investments in AI, interest in data center operators and other firms supporting the technology's backbone has also grown.

However, Switch has not yet responded to any inquiries about the Bloomberg report, and Reuters has not been able to independently confirm the information.