According to Bloomberg, data center operator Switch has launched a $2 billion private financing round, with a16z leading the investment by contributing approximately $400 million. Goldman Sachs and JPMorgan are assisting in the process, with the financing aimed at preparing for an IPO as early as next year. Following the financing, Switch's enterprise valuation, including debt, is estimated to be close to $50 billion, with an equity value of approximately $19 billion. Negotiations are still ongoing.
Switch is headquartered in Las Vegas, with the majority of its equity owned by DigitalBridge. DigitalBridge, along with other investors such as IFM Investors, privatized Switch in 2022 through a transaction valued at approximately $11 billion.
