Switch, a US data center developer, is in talks to raise billions of dollars at a valuation of at least US$50 billion, a report said.

Brookfield Asset Management, KKR, and other private equity and institutional investors considering participation.

The deal could also help position the company for an initial public offering as early as next year.

Switch was taken private by funds affiliated with DigitalBridge Investment Management and an affiliate of IFM Investors in December 2022 in a deal valued at about US$11 billion, including debt.

The company operates 20 data centers in the United States, mainly in Nevada.

The talks come as investment in data centers and servers has increased alongside rapid growth in AI.

Switch did not immediately respond to a request for comment.

🔗 Source: Reuters