Digitalbridge Group Inc

Switch Inc. has filed confidentially for a U.S. initial public offering that could take place as early as November, Bloomberg reported, citing people familiar with the matter. The Las Vegas-based data center operator is working with Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase and Morgan Stanley on the potential listing, and could seek a valuation approaching $50 billion including debt. The company has also been working on a funding round led by venture capital firm Andreessen Horowitz, which was reported in July to be targeting about $2 billion. Switch operates data centers in Nevada, Michigan, Georgia and Texas, and is majority owned by DigitalBridge Group, which led an investor group alongside IFM Investors in acquiring Switch for $11 billion including debt in 2022. The planned listing comes as data center operators seek to tap investor demand for companies positioned to benefit from rising artificial intelligence infrastructure spending.

DigitalBridge and Japan Extensive Infrastructure have formed Nippon Gateway Infrastructure, a new colocation data center platform in Japan. NGI launches with a foundational portfolio of data center assets acquired from NEC Corporation, comprising facilities in the Greater Tokyo and Greater Osaka regions. NEC will remain a strategic customer while NGI intends to expand its enterprise platform. Hiroshi Ogasawara has been appointed President and CEO, Masato Hoshino as Executive Vice President and COO, and Yoshiaki Fujimori as Chairman. NGI aims to become a leading enterprise-focused colocation data center platform in Japan, pursuing growth through strategic acquisitions, expansion of existing facilities, and selective greenfield developments.

DigitalBridge Group is weighing strategic options for Malaysia's AIMS Data Centre Holding Sdn., including a possible fundraise, new investors or an outright sale. The US-based digital infrastructure firm is working with a financial adviser and has already reached out to potential investors to test interest, according to people familiar with the matter. A transaction could value AIMS at about $2 billion, though discussions remain ongoing and DigitalBridge may still decide not to move forward. DigitalBridge acquired 49% of AIMS' ordinary shares, all of its irredeemable convertible preference shares and 21% of AIMS Data Centre (Thailand) Ltd. in a 2023 transaction that valued AIMS at about $775 million. If a deal around the reported $2 billion valuation moves ahead, it could mark a major step-up for the Malaysia-based data-center platform.