TechFlow News, July 2, according to Bloomberg, data center operator Switch announced the official launch of a $2 billion private financing round, led by a16z. Sources revealed that Switch's enterprise valuation (including debt) after this financing may approach $50 billion, with an equity value of approximately $19 billion (excluding new investment). a16z will invest approximately $400 million. Additionally, Goldman Sachs Group and JPMorgan Chase are also assisting in advancing this financing round. This financing may prepare Switch for an initial public offering (IPO) as early as next year.
Relevant negotiations are currently ongoing, and the financing scale, valuation, and timing may still be adjusted. Switch is headquartered in Las Vegas and was founded in 2000. It currently operates data centers in Nevada, Michigan, Georgia, and Texas. Its majority equity is held by DigitalBridge, which previously privatized Switch in a transaction worth approximately $11 billion (including debt) in 2022 with investors such as IFM Investors.
