Switch Inc. Files Secret US IPO Application Targeting $50B Valuation

Switch Inc. secretly files for a US IPO with a potential $50B valuation, aiming for a listing by November this year with a16z co-founder Ben Horowitz joining the board.

Woofun AI reports that data center operator Switch Inc. has confidentially submitted an initial public offering application in the United States. The company targets a post-listing enterprise valuation of approximately $50 billion and plans to list as early as November this year. Switch is collaborating with Bank of America, Citi, Goldman Sachs, JPMorgan, and Morgan Stanley to facilitate the process. Ben Horowitz, co-founder of Andreessen Horowitz, will join the board of directors. Switch is also preparing for a new financing round led by a16z, potentially targeting a similar valuation. Headquartered in Las Vegas, Switch operates facilities in Nevada, Michigan, Georgia, and Texas. DigitalBridge currently controls the company, having acquired it in 2022 for roughly $11 billion including debt. This filing occurs amid increased capitalization in the AI data center sector, with several operators raising funds through US IPOs this year.