Switch data‑center operator targets up to $80 billion IPO

Las Vegas‑based Switch, a large‑scale data‑center operator that powers AI workloads for customers such as Nvidia, Dell and FedEx, is preparing an initial public offering that could value the company at as much as $80 billion, including debt. The firm has engaged Goldman Sachs and JPMorgan Chase as lead underwriters and is discussing a possible raise of up to $10 billion, with the timing and exact valuation still under review.

Switch is also in advanced talks to secure roughly $2 billion of private funding that would value the business near $50 billion. Since 2024 it has taken on about $20 billion of debt to fund its expansion, and its data centers have been powered by renewable energy since 2016. An IPO of this size would rank among the largest U.S. technology listings in recent years and reflects escalating investor appetite for AI‑infrastructure assets.