Switch announced an expansion across its Borrowing Base and Revolving Credit Facilities to $10 billion. With this latest milestone, Switch has 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. Proceeds from these transactions will support the growth of Switch’s contracted campus developments nationwide, reduce its cost of capital and retire 100% of the bank debt incurred during its 2022 take-private transaction.
This capital foundation also supports the continued expansion of Switch’s cutting-edge product portfolio, including its latest innovation ‘Rob Roy’s EVO AI Factories’. Purpose-built for next generation AI, hyperscale cloud and enterprise workloads, these AI factories feature a hybrid-air-and-liquid cooled design that supports extreme densities up to 2 MW per rack, all aligned with NVIDIA DGX™ and MGX roadmaps and ready for their latest systems. Construction is underway across all five Switch campuses, including Tahoe Reno and Atlanta- two of the fastest growing and strategically important AI infrastructure markets in the U.S., 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.”
“Our capital strategy is centered on aligning long-term customer commitments with efficient, scalable funding,” added Madonna Park, Chief Financial Officer of Switch. “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.”
“We’re pleased to have continued strong support from both new and long-standing capital partners,” said Jesse Burros, Chief Investment Officer of Switch. “The oversubscription of our most recent financing reflects institutional confidence in our platform, driven by a fully contracted pipeline and disciplined execution.”
