Switch Raises $10 Billion to Accelerate AI Data Center Layout

Data center operator Switch announced an expansion of its borrowing base and revolving credit line to $10 billion. This is an important component of the $20 billion funding raised by the company since 2024 through sustainable financing structures such as sustainable development linked loans and green loans.

The total amount of this financing includes the previously announced issuance of $5.2 billion in commercial mortgage-backed securities (CMBS) and asset-backed securities (ABS), $4.5 billion in project level infrastructure financing, and the latest expanded credit line. Switch stated that the funds raised will be used to support the development of contracted parks nationwide, reduce capital costs, and fully repay bank debts arising from privatization transactions in 2022.

EVO AI factory becomes a key investment focus

The funding will focus on supporting the expansion of the Switch product line, including its latest innovation – the “Rob Roy’s EVO AI Factory”. The facility is designed specifically for next-generation AI, ultra large scale cloud, and enterprise workloads, using a hybrid air and liquid cooling system with a single cabinet power density of up to 2MW. It is fully compatible with NVIDIA DGX and MGX technology roadmaps and can adapt to the latest systems.

Switch is building such AI factories in all five of its campuses, including strategic locations with the fastest growing AI infrastructure in the United States – Tahoe Renault and Atlanta campuses. All expanded production capacity has obtained long-term contract guarantees from customers.

Sustainable Financing Architecture

This financing, jointly led by JPMorgan Chase and TD Securities, combines sustainable development goals. The core of our capital strategy is to match long-term customer commitments with efficient and scalable funding. This financing not only safeguards existing development plans, but also provides flexibility and liquidity for sustained growth, “said Madonna Park, Chief Financial Officer of Switch