Switch in talks to raise billions, valued over $50B

Switch, a major data center operator, is in advanced discussions to raise billions of dollars in a private funding round that would value the company at more than $50 billion, according to reports citing people familiar with the matter. The potential valuation marks a dramatic increase from the $11 billion price paid to take the company private in late 2022.

The Las Vegas-based company, founded in 2000 by CEO Rob Roy, has reportedly attracted interest from heavyweight institutional investors including Brookfield Asset Management and KKR. Bankers from Goldman Sachs and JPMorgan are said to be advising on the fundraising effort. The company has not publicly confirmed the terms of the discussions.

This move comes amid soaring demand for the physical infrastructure required to support artificial intelligence. Technology companies are racing to secure computing capacity, driving intense demand for data centers, power, and specialized hardware. This industry-wide scramble has repriced data center operators, once viewed as stable infrastructure assets, into strategic AI investments.

Switch has spent more than two decades building large-scale data center campuses across the United States...