Data center operator Switch raises $2 billion in round led by Andreessen Horowitz

US data center operator Switch Inc. has started raising a private funding round of about $2 billion, led by venture firm Andreessen Horowitz (a16z). Bloomberg reported the news on July 17, 2026, citing sources familiar with the deal.

What we know about the round

The deal's details — Switch's final valuation, the other investors involved, and the timeline for closing the round — have not yet been disclosed. Bloomberg's sources describe the amount as approximate: it may change as negotiations proceed.

• Target round size: about $2 billion
• The round is led by Andreessen Horowitz (a16z)
• Switch Inc. operates large data center campuses in the US
• The deal is at an early stage, and the company has not commented officially

Why investors are putting money into data centers

Switch is known for its massive hyperscale data center campuses, including the SUPERNAP complex in Las Vegas. The company has been through an ownership change before: in 2022, investors DigitalBridge and IFM Investors took it private for roughly $11 billion. Demand for compute to train and run inference on AI models has surged in recent years, and data center operators have become one of the hottest categories for venture and infrastructure investors, alongside chipmakers and energy companies.

Andreessen Horowitz has been investing heavily in AI infrastructure, from chips to cloud platforms, and its role in the Switch round fits that strategy. Without enough data center capacity, the AI industry's continued growth runs into hard physical limits: electricity, cooling, and floor space for servers.

What it means

The Switch round is another sign that money keeps flowing into AI infrastructure as aggressively as into the models themselves. Without data centers and energy, scaling AI services will stall.