Switch is currently negotiating a new round of multi-billion-dollar financing, aiming for a post-investment valuation of no less than $50 billion. Institutions such as Brookfield Asset Management and KKR are currently in discussions about participating, though negotiations are still in the early stages and remain uncertain. If this financing round is successfully completed, Switch will become one of the highest-valued unlisted data center operators globally, with a valuation approximately five times that of its 2022 privatization deal (which included $11 billion in debt). However, it is currently unclear whether this valuation includes existing debt. Additionally, sources indicate that after the financing is completed, Switch could potentially launch an IPO as early as next year, having already engaged Goldman Sachs and JPMorgan Chase as underwriting investment banks. Founded by Rob Roy in 2000, Switch went public on the US stock market in 2017 and was privatized and delisted in 2022 by a consortium of DigitalBridge and Australia's IFM Investors. SoftBank had planned to acquire Switch for nearly $50 billion by the end of 2025 but abandoned the deal in early 2026 due to concerns over the transaction's scale and subsequent operational challenges. Previously, SoftBank had finalized a $4 billion deal to acquire a significant stake in Switch from major shareholder DigitalBridge.