Switch Inc. Files for IPO in the U.S., Valuation Approaching $50 Billion

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Switch Inc. has confidentially filed for a U.S. IPO, targeting a $50 billion valuation including debt. The company is working with Bank of America, Citigroup, and Goldman Sachs, with a potential listing as early as November. Recent inflation data and a rising Fear & Greed Index have boosted investor interest in AI data center operators. Several firms in the sector have raised funds through U.S. IPOs this year.

According to Bloomberg, data center company Switch Inc. has secretly filed for a U.S. IPO, with plans to go public as early as November this year.

The company is collaborating with Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, and Morgan Stanley to advance the offering, with a target of achieving a post-listing enterprise value (including debt) of approximately $50 billion.

Switch is headquartered in Las Vegas and operates data centers in Nevada, Michigan, Georgia, and Texas.

The company is currently controlled by DigitalBridge, which, in 2022, jointly acquired Switch with other investors for approximately $11 billion, including debt.

Additionally, Ben Horowitz, co-founder of Andreessen Horowitz (a16z), will join Switch’s board of directors.

This IPO application comes amid accelerated capitalization of AI data centers, with multiple data center operators and related equipment service companies raising funds through U.S. initial public offerings this year.

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