Switch, the Las Vegas-based data center operator, is preparing for an initial public offering that could value the company at up to $80B, according to sources familiar with the matter. The company has tapped banks to begin the IPO process, a move that would mark its return to public markets after previously going private.
Switch was valued at roughly $4.2B when it first went public back in October 2017, raising $531 million in that offering. An $80B valuation would represent nearly a 20x increase.
The road to going public, again
Before the IPO machinery kicks into gear, Switch is working on shoring up its balance sheet. The company is currently in advanced talks to raise approximately $2B in private funding, a round that would value the firm near $50B including debt.
Andreessen Horowitz, Brookfield, and KKR are all reportedly involved in the funding discussions, which have been ongoing through June and July 2026.
