Data center operator Switch has secretly filed for an IPO on the US stock market, with the earliest listing expected in November.

Informed sources have revealed that data center operator Switch has secretly submitted an initial public offering (IPO) application to the U.S. Securities and Exchange Commission, aiming to raise funds by tapping into the strong investor demand for artificial intelligence (AI). The Las Vegas-based company could potentially go public as early as November. Switch has enlisted Bank of America Corp, Citigroup, Goldman Sachs Group, Inc., JPMorgan Chase, and Morgan Stanley to jointly lead the offering. Additionally, sources have disclosed that Ben Horowitz, co-founder of the venture capital firm Andreessen Horowitz, will join Switch's board of directors. Media reports in July indicated that Switch is in the process of a new funding round led by Andreessen Horowitz, with a valuation potentially nearing $50 billion, including debt. According to available data, Switch operates data centers in Nevada, Michigan, Georgia, and Texas, and is controlled by DigitalBridge Group (DBRG.US). This year, data center operators and related equipment and service providers have been raising funds through IPOs in the U.S. In May, data center acquisition company Blackstone Digital Infrastructure Trust (BXDC.US) raised $2 billion through its IPO; last month, Bruker Corporation-backed Csquare (CSQR.US) raised $1.21 billion through its IPO. It is reported that a consortium including DigitalBridge and Australian infrastructure management firm IFM Investors Pty acquired Switch in 2022 for $11 billion (including debt). Last year, SoftBank Group Corp announced its plan to acquire the data center investment company DigitalBridge for $4 billion to strengthen its AI infrastructure.