Data center firm Switch confidentially files for US IPO, Bloomberg News reports
FILE PHOTO: A street sign for Wall Street is seen outside the New York Stock Exchange (NYSE) in New York City, New York, U.S., July 19, 2021. REUTERS/Andrew Kelly//File Photo
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Aug 7 : Data center firm Switch filed confidentially for a U.S. initial public offering, Bloomberg News reported on Friday, citing people familiar with the matter.
Reuters has previously reported, citing sources, that the company could raise up to $10 billion as soon as the fourth quarter at close to a $80 billion valuation, including debt.
Switch did not immediately respond to a Reuters request for comment on the Bloomberg report. Reuters could not independently verify the report.
The company operates large-scale data center campuses that provide power, cooling and connectivity needed for AI computing, enabling cloud providers and enterprises to deploy GPU clusters used to train and run AI models.
Demand for such infrastructure has surged as companies invest heavily in AI, driving interest in data center operators and other firms that support the computing backbone of the technology.
Source: Reuters
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