Bank of America Named a Key Underwriter for Switch's AI-Focused IPO

Bank of America will underwrite the confidential U.S. initial public offering for data center operator Switch Inc. The IPO aims to capitalize on surging investor demand for artificial intelligence infrastructure.

DigitalBridge Group Inc. took Switch private in 2022 for $11 billion. Switch now seeks a valuation approaching $50 billion, including debt. The planned listing could occur as early as November 2026. Citigroup, Goldman Sachs, JPMorgan Chase, and Morgan Stanley also serve as underwriters.

This IPO highlights a broader trend: data center companies fund AI-ready facilities through public markets. The deal positions Bank of America in a key financing role within a critical, rapidly expanding technology segment.