Switch, a Las Vegas-based AI, cloud, and enterprise data center company, secured $4.25B in funding.

J.P. Morgan and TD Securities led the deal, supported by ING Capital and TD Securities as sustainability coordinators. TD Securities also played a major role in upsizing the company's RCF to $770M.

The funds will primarily support new project developments totaling over $5B, and refinance existing acquisition debt from the December 2022 take-private deal by DigitalBridge and IFM Investors.

Switch aims to enhance its AI, cloud, and enterprise offerings to meet rising customer demand.

Founded in 2000 by CEO Rob Roy, Switch specializes in dense liquid-cooled AI environments, hyperscale cloud infrastructure, and secure enterprise data centers.