Switch in talks to raise funds at $50 billion-plus valuation, The Information reports
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June 4 (Reuters) - Data center developer Switch is in talks to raise billions of dollars at a valuation of at least $50 billion, The Information reported on Thursday, citing people with knowledge of the deal.
Here are some details:
Brookfield Asset Management BAM.N, KKR KKR.N and other private equity and institutional investors have been in talks to invest in the round, the report said.
The fundraising round could possibly set up Switch for an initial public offering, which could come as early as next year, according to the report.
Goldman Sachs GS.N and JP Morgan JPM.N bankers are working with Switch to help with the fundraise, the report said.
Switch did not immediately respond to Reuters' request for comment outside regular business hours. Reuters could not immediately verify the report.
Dealmaking in the data center and server industry has witnessed an uptick with the rapid growth of artificial intelligence.
Switch was founded in 2000 by CEO Rob Roy, and is headquartered in Las Vegas, Nevada.
The company counts Nvidia NVDA.O, Fedex FDX.N, Tesla TSLA.O and Logitech LOGN.S among its clients, per its website.