Switch Seeks $2 billion Funding Round Valuing Company Near $50 billion
Switch, the Las Vegas‑based data‑center operator, has initiated a private fundraising round that is being led by venture‑capital firm Andreessen Horowitz. The round is expected to raise approximately $2 billion, which would place the company’s total enterprise value at roughly $50 billion when debt is included. Prior to the new capital injection, Switch’s equity is valued at about $19 billion.
Andreessen Horowitz is slated to invest roughly $400 million of the total amount. Investment banks Goldman Sachs and JPMorgan Chase are reported to be structuring and arranging the remainder of the financing.
The capital raise comes amid heightened investor appetite for data‑center assets, driven by surging demand for computing power and cloud infrastructure linked to artificial‑intelligence applications. Bloomberg notes that the financing could be completed before a potential initial public offering, which may be contemplated as early as the next fiscal year, although the timing and terms remain under discussion.
Switch is majority‑owned by Digitalbridge Group (NYSE: DBRG) in partnership with IFM Investors; the two entities acquired Switch in 2022 in a transaction that valued the business at $11 billion, debt included.
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