L'entreprise de centres de données exclusifs Switch exploite les banques pour une introduction en bourse qui pourrait lui valoir jusqu'à 80 milliards de dollars, selon des sources

Data center operator Switch has begun hiring investment banks for an initial public offering that could value the company at nearly $80 billion, according to multiple undisclosed sources. The move comes as part of plans to list shares on the U.S. stock market, potentially raising up to $10 billion in capital during the fourth quarter. Goldman Sachs and JPMorgan Chase have been named as lead underwriters for the offering, though the final terms, including the exact valuation and timing, remain subject to further negotiation. Switch, based in Las Vegas, operates large-scale data center campuses designed to support high-performance computing, particularly for artificial intelligence applications. These facilities provide essential services such as power, cooling, and connectivity, enabling cloud providers and enterprises to deploy energy-intensive GPU clusters used for training and running AI models. Major clients include tech giants like Nvidia, Dell Technologies, and logistics firm FedEx. The company has long positioned itself as a key player in the growing AI infrastructure sector, leveraging its capabilities to meet rising demand for computational resources. The proposed IPO would mark one of the largest U.S. stock market debuts in recent years, reflecting the heightened investor interest in firms driving innovation in AI and related technologies. This trend aligns with a broader resurgence in the U.S. IPO market, which has recorded $155.5 billion in proceeds so far this year, the fastest pace since 2021. Notable examples include SpaceX’s record-breaking public debut and potential listings from companies such as Anthropic and OpenAI. The surge underscores the financial community’s confidence in the future of AI-driven industries. Switch had previously engaged in discussions with private investors regarding a fundraising round at a valuation of at least $40 billion before the IPO. A third source confirmed these talks, noting that the private funding round was first reported by TMT Finance in March. The company, along with Goldman Sachs and JPMorgan Chase, has chosen to remain silent on the matter, citing confidentiality around ongoing deliberations. The expansion of the data center industry reflects its central role in the global shift toward AI infrastructure. As companies compete to secure computing capacity for increasingly complex AI models, the need for robust, scalable data center solutions continues to grow. This demand has spurred interest in firms not only operating data centers but also supporting the broader AI ecosystem. Recent examples include the upcoming IPO of SB Energy, backed by SoftBank, and the planned listing of Csquare, a Brookfield-backed data center provider aiming for a valuation of up to $4.18 billion. Similarly, AI chipmaker Cerebras Systems saw a sharp rise in its market debut following its $5.55 billion IPO in May. Switch’s journey to becoming a publicly traded entity began in 2000 when it was founded by Chief Executive Rob Roy. In 2022, the company was acquired by DigitalBridge and IFM Investors for $11 billion, marking a significant milestone in its growth trajectory. The acquisition allowed Switch to expand its operations and enhance its technological capabilities. In 2023, the Australian pension fund Aware Super acquired a minority stake in the company, further solidifying its position in the market. Since 2016, Switch has operated its data centers using renewable energy, a sustainability initiative that appeals to environmentally conscious businesses seeking to meet their decarbonization goals. As the IPO process moves forward, the focus will likely shift to securing regulatory approvals and finalizing the offering details. With the U.S. IPO market showing signs of renewed vigor, Switch’s entry into the public markets could set a new benchmark for data center operators and AI infrastructure providers. Its success may also influence other firms in the sector, encouraging them to pursue similar paths as they seek to capitalize on the expanding opportunities within the AI landscape.