Switch Inc. is lining up an IPO potentially valued at up to $10 billion, with Goldman Sachs and JPMorgan Chase leading the underwriting, and the listing could occur as soon as the fourth quarter. The deal would be one of the largest U.S. market debuts in recent years, reflecting strong investor interest in AI infrastructure and data-center capacity. Switch operates the SUPERNAP facilities and counts Nvidia, Dell Technologies, and FedEx among its clients, underscoring its role in powering AI compute for cloud providers and enterprises. The company has discussed private rounds at a valuation near $40 billion ahead of the IPO, even as market timing and size remain fluid amid a rebound in IPO activity this year. Analysts and investors are weighing Switch’s growth prospects and the broader demand for AI infrastructure as the market considers how data centers will scale to support increasingly capable AI models.