Switch Inc. Confidentially Files for US IPO

Switch Inc., a Las Vegas-based data center firm, has confidentially filed for an initial public offering in the United States. The company aims to capitalize on investor demand for artificial intelligence infrastructure, with the listing potentially occurring as early as November.

The firm is working with a consortium of banks including Bank of America Corp., Citigroup Inc., Goldman Sachs Group Inc., JPMorgan Chase & Co., and Morgan Stanley. A funding round led by Andreessen Horowitz could value the company at nearly $50 billion, including debt. As part of this development, Ben Horowitz, co-founder of Andreessen Horowitz, is joining the board of the company.

Switch is currently majority-owned by DigitalBridge Group Inc. In a related corporate shift, DigitalBridge is slated for acquisition by SoftBank Group Corp.