Data Center Operator Switch Confidentially Files for U.S. IPO Amid AI Infrastructure Boom

Aug 7, 2026

Data center operator Switch Inc. has confidentially filed for a U.S. IPO that could launch as early as November 2026. Backed by major underwriters including Goldman Sachs and JPMorgan, the offering could value the firm at up to $80 billion including debt. The move highlights a massive surge in investor demand for physical AI infrastructure, following recent multi-billion-dollar listings by Blackstone and Brookfield. Separately, Andreessen Horowitz co-founder Ben Horowitz is set to join Switch's board.

Switch confidential IPO filing

▪Data center operator Switch Inc. has confidentially filed for an initial public offering in the United States.
▪The initial public offering of Switch Inc. could take place as early as November 2026.

AI infrastructure demand surge

▪Csquare Inc., backed by Brookfield Corp., raised $1.21 billion in an initial public offering in July 2026.
▪The rapid expansion of artificial intelligence applications has driven surging investor interest and capital into physical data center infrastructure.
▪Blackstone Digital Infrastructure Trust Inc. raised $2 billion in an initial public offering in May 2026.

Potential IPO valuation

▪Switch Inc. could seek a valuation of close to $80 billion including debt and raise up to $10 billion in its initial public offering.
▪Switch Inc. has been working on a funding round that could value the company at close to $50 billion including debt.

Investment bank underwriters

▪Switch Inc. is working with Bank of America Corp., Citigroup Inc., Goldman Sachs Group Inc., JPMorgan Chase & Co., and Morgan Stanley on its offering.
▪Goldman Sachs Group Inc. and JPMorgan Chase & Co. are reportedly leading the underwriting deal for the Switch Inc. offering.

Switch data center operations

▪Switch Inc. was acquired in 2022 by DigitalBridge Group Inc. and IFM Investors Pty for approximately $11 billion including debt.
▪Switch Inc. operates large-scale data center campuses in Nevada, Michigan, Georgia, and Texas.
▪Switch Inc. founder Rob Roy has built a patent portfolio of more than 950 issued and pending claims covering data center designs.

Ben Horowitz board appointment

▪Venture capital firm Andreessen Horowitz is leading a pre-IPO funding round for Switch Inc.
▪Ben Horowitz, co-founder of venture capital firm Andreessen Horowitz, is joining the board of directors of Switch Inc.