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

Data center company Switch Inc. has secretly filed for an IPO in the United States, becoming one of the latest data center firms seeking to go public amid the recent surge in investments in artificial intelligence infrastructure. Switch plans to go public as early as November this year and is collaborating with investment banks including Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, and Morgan Stanley to advance the issuance, aiming for a post-IPO valuation (including debt) close to $50 billion. Ben Horowitz, co-founder of venture capital firm Andreessen Horowitz, will join Switch's board of directors. Headquartered in Las Vegas, Switch operates data centers in Nevada, Michigan, Georgia, and Texas. The company is currently owned by DigitalBridge, which acquired Switch for approximately $11 billion in 2022. This IPO filing comes at a time when the capitalization of the AI data center industry is accelerating, with the market viewing computing infrastructure as a new focal point of interest for capital markets.

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