Switch, the Las Vegas-based data center operator, has confidentially filed for a US IPO with the SEC. The offering could raise up to $10 billion, with a projected valuation approaching $80 billion including debt. The company, previously public in 2017 under ticker SWCH before being taken private in December 2022 by DigitalBridge and IFM Investors, has retained Goldman Sachs and JPMorgan Chase as lead underwriters, alongside Bank of America, Citigroup and Morgan Stanley. The IPO targets the AI infrastructure wave, with facilities capable of delivering power densities exceeding 2 megawatts per cabinet, far beyond traditional data center standards.
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