Switch Prepares for Wall Street Debut Amid Data Center Boom

Switch, a data center operator based in Las Vegas, has filed confidentially for an initial public offering (IPO). The company runs data centers in Nevada, Michigan, Georgia, and Texas. Big banks are lined up to manage the sale, including Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, and Morgan Stanley.

The filing is a big step toward going public, but Switch has not yet published its detailed financial information. That will come if the IPO moves forward, which could change investor expectations. The potential price tag for Switch's IPO is around $50 billion, a huge increase from its 2022 deal with DigitalBridge.

The data center market is booming, with several companies going public in recent months. In May, Blackstone Digital Infrastructure Trust Inc. raised $2 billion through a U.S. IPO, and last month Csquare Inc. collected $1.21 billion from its own IPO. A Switch listing would add another name to the field.