Data center firm Switch confidentially files for U.S. IPO, Bloomberg News reports

Data center firm Switch has confidentially submitted paperwork for a U.S. initial public offering, Bloomberg News reported, citing sources familiar with the matter. This move signals the company's intention to go public on the U.S. stock market.

Reuters previously reported, based on sources, that Switch might seek to raise as much as $10 billion. The potential valuation, including debt, could be around $80 billion. The timing for such a listing was suggested to be as early as the fourth quarter of this year.

Switch, which was contacted for comment, did not immediately respond to the Bloomberg report. Reuters could not independently confirm the information. The company specializes in operating large-scale data center campuses. These facilities provide essential power, cooling, and connectivity services required for artificial intelligence computing.

Their infrastructure enables cloud providers and enterprises to deploy the GPU clusters necessary for training and running AI models. The demand for such data center services has seen a significant increase. This surge is driven by substantial corporate investments in AI technologies, which in turn fuels interest in data center operators and other companies supporting the foundational computing backbone of the AI sector.