Company also secures new debt funding
US data center firm Switch has launched a new data center design it claims can support up to 2MW per rack.
The company has also expanded its available debt financing to $10 billion.
Switch launches 2MW AI factory offering
Switch this week announced a new ultra-dense data center design focused on AI hardware.
Known as EVO AI Factories, the new offering features a hybrid-air-and-liquid cooled design that supports extreme densities up to 2MW per rack, all aligned with Nvidia DGX and MGX roadmaps, and ready for the GPU maker's latest systems.
Construction is underway across all five Switch campuses, including Tahoe Reno and Atlanta, with phased capacity deliveries secured by long-term customer contracts.
“As digital infrastructure becomes more critical to enabling AI and next-generation technologies, our focus remains on delivering performance and reliability at scale,” said Thomas Morton, president of Switch. “With strong visibility into contracted demand, this capital access positions us to execute with speed and efficiency, while making sure the infrastructure we deliver stands up to future demands and continues to support our customers’ evolving needs.”
Switch's traditional proprietary designs feature hot-aisle containment, but the company is already offering liquid cooling in Las Vegas; it is hosting an Nvidia GB300 NVL72 deployment on behalf of AI cloud provider CoreWeave.
Few further details are available, but the company has confirmed CoreWeave is using Switch’s EVO design to host its Nvidia GB300 NVL72 deployment. A video from CoreWeave references in-rack CDUs.
Reports surfaced last week that Switch was expanding its Las Vegas data center footprint with smaller, denser facilities focused on hosting AI hardware.
Switch expands debt funding
The company this week also announced it has expanded its borrowing base and revolving credit facilities to $10 billion.
Switch has now raised $20 billion since 2024 through sustainable financing structures, including sustainability-linked loans, green loans, and green bonds.
The total capital raised includes $5.2 billion in previously announced CMBS and ABS issuances, among the largest in the sector, $4.5 billion in project-level infrastructure financings, and the newly upsized credit facilities.
Switch said that the proceeds will fund the campus developments across the US and retire 100 percent of the bank debt incurred during the 2022 acquisition that took the company private.
“Our capital strategy is centered on aligning long-term customer commitments with efficient, scalable funding,” added Madonna Park, Switch CFO. “This expanded access to capital allows us to execute on secured developments and also provides us the flexibility and liquidity to best position us for continued growth.”
Backed by a broad and collaborative syndicate of leading financial institutions, the recent upsize of the corporate revolving credit facility was led by TD Securities and J.P. Morgan, which also served as joint lead arrangers and joint bookrunners. ING serves as sustainability coordinator, and TD Securities serves as the administrative agent.
The secured borrowing base facility was led by J.P. Morgan and TD Securities, which served as co-structuring agents, joint lead arrangers and joint bookrunners. ING and TD Securities serve as co-sustainability coordinators, and TD Securities also serves as administrative agent.
Founded in 2000, Switch operates its large 'Prime' data center campuses in Austin, Texas; Reno and Las Vegas, Nevada; Grand Rapids, Michigan; and Atlanta, Georgia. Over the last year, it has filed to expand further in Austin and Atlanta.
DigitalBridge, alongside IFM Investors, took Switch private in an $11 billion deal in December 2022. Australian pension fund Aware Super invested $500 million into Switch in 2023, but since then, the company has reportedly been exploring going public again.
