Data center firm Switch has confidentially filed for a U.S. initial public offering, Bloomberg News reported Friday, citing people familiar with the matter. Reuters had previously reported the company could raise up to $10 billion as soon as the fourth quarter at a valuation close to $80 billion, including debt.
Data center firm Switch has confidentially filed for a U.S. initial public offering, Bloomberg News reported Friday, citing people familiar with the matter.
Reuters had previously reported, citing its own sources, that Switch could raise up to $10 billion as soon as the fourth quarter at a valuation close to $80 billion, including debt. Switch did not immediately respond to a request for comment on the Bloomberg report, and Reuters said it could not independently verify it.
The company operates large-scale data center campuses that provide the power, cooling and connectivity AI computing needs, letting cloud providers and enterprises deploy GPU clusters to train and run AI models. Demand for that infrastructure has surged as companies invest heavily in AI, driving interest in data center operators and other firms that support the technology's computing backbone.
Source: Investing.com
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