Data center operator Switch eyes a $10 billion IPO in Q4, reflecting strong investor demand for AI infrastructure assets.
Data center operator Switch has engaged Goldman Sachs and JPMorgan Chase to underwrite an initial public offering that could raise up to $10 billion as early as the fourth quarter. The offering may value the company at nearly $80 billion, including debt, though details remain under discussion and could change.
The potential IPO would mark one of the largest U.S. market debuts in recent years, highlighting investor appetite for firms tied to artificial intelligence infrastructure. U.S. IPO proceeds have reached $155.5 billion this year, the strongest performance since 2021, driven by high-profile tech and AI-related listings.
Switch operates large-scale data centers that support AI computing, providing power, cooling, and connectivity for energy-intensive GPU clusters used in training and running AI models.