Switch, the Las Vegas-based data center operator, is in talks to raise billions in fresh capital at a valuation exceeding $50 billion. That figure is a massive leap from the $11 billion DigitalBridge and IFM Investors paid to take the company private in December 2022.
The funding round has attracted heavyweight institutional investors including Brookfield Asset Management and KKR, according to a report from The Information.
Since 2024, Switch has raised an estimated $20 billion to $24 billion through debt and securitized financing. This includes a $768 million asset-backed securities issuance in April 2026 and a $2.6 billion credit facility. Proceeds have gone toward land acquisitions and campus expansions across multiple US states.
When DigitalBridge and IFM took Switch private in late 2022, the AI infrastructure narrative was still emerging. Founded in 2000 by CEO Rob Roy, Switch had built a reputation for operating some of the largest and most efficient data center campuses in the country.
Switch is reportedly exploring a potential public listing as early as 2027. A public offering near a $50 billion valuation would rank among the largest tech infrastructure IPOs in recent memory.