Data center operator Switch has engaged investment banks to prepare for an initial public offering that could raise as much as $10 billion, with a potential valuation reaching $80 billion.
The company is targeting a listing as early as the fourth quarter, according to two people familiar with the matter.
This development follows a wave of interest in data center equities, highlighted by Csquare’s recent announcement of a target valuation of up to $4.
The scale of the proposed offering places Switch among the largest technology infrastructure debuts in recent years.
The move underscores the continued capital market appetite for assets directly tied to artificial intelligence expansion, even as broader equity markets face volatility from macroeconomic uncertainty.
Switch’s private backers are seeking to monetize a significant portion of their holdings while providing the company with fresh capital to fund its aggressive build-out of hyperscale facilities.
This development follows a wave of interest in data center equities, highlighted by Csquare’s recent announcement of a target valuation of up to $4.18 billion for its own US IPO.