Data center operator Switch has filed confidentially for an initial public offering in the United States, marking a significant step toward bringing the private infrastructure giant to public markets.
The filing was reported by Bloomberg News on Friday, citing individuals familiar with the matter.
The move follows earlier reports that Switch had engaged investment banks to prepare for a listing that could raise as much as $10 billion.
The move follows earlier reports that Switch had engaged investment banks to prepare for a listing that could raise as much as $10 billion.
Market sources have previously indicated the company is targeting a valuation of approximately $80 billion, positioning it as one of the most valuable infrastructure plays in the artificial intelligence sector.
Switch’s entry into the IPO pipeline adds to a growing wave of AI-related public listings.
OpenAI, the artificial intelligence pioneer, also recently filed confidentially for a US IPO, according to separate reports.