Brookfield Asset Management and KKR have emerged as key participants in these discussions, according to reports from The Information. The capital injection is positioned to prepare the company for a potential initial public offering as early as next year. To facilitate the process, Switch has tapped bankers from Goldman Sachs and JP Morgan.

Founded in 2000 by CEO Rob Roy, the firm operates at the intersection of a rapidly expanding artificial intelligence sector that relies heavily on its server capacity. While the company has not publicly confirmed the specifics of the fundraising round, the scale of the valuation reflects the broader surge in dealmaking activity across the data center industry. Switch currently maintains a diverse client portfolio that includes FedEx and Logitech, solidifying its role as a critical node in enterprise computing infrastructure.