LAS VEGAS, NV — APRIL 30, 2026— Switch^®, the premier provider of AI, cloud and enterprise data centers, today announced plans to develop a new 382-acre data center campus in Big Beaver Borough, in Beaver County, Pennsylvania, expanding its proven platform.

Located in the greater Pittsburgh area, at the intersection of key East-West and North-South fiber routes, the Beaver County campus will house data center facilities that deliver low-latency connectivity to finance, healthcare, higher education and government organizations concentrated across the Eastern United States.

Switch has built its reputation on a differentiated, responsible approach to power, water and sustainability. The company is committed to funding the infrastructure required for its power needs, consistent with an approach that does not pass costs onto consumers. Switch’s proprietary design uses a closed-loop system that recycles water, minimizing consumption and eliminating discharge. The Switch EVO^® data centers consume zero water to cool the servers and GPU’s and only require a minimal water connection for office and warehouse.

“Beaver County helped build America’s industrial foundation, and this campus represents a new chapter for the Borough of Big Beaver. Switch plans to serve as a long-term partner to Beaver County by investing in infrastructure and supporting local initiatives to stimulate the local economy and benefit the community,” said Natalie Stewart Mitchell, SVP of Government Affairs & Campus Development at Switch.” We are excited to invest in this region and partner with the community to be a responsible, long-term neighbor.”  

The campus will join Switch’s existing Prime campus portfolio with locations in Las Vegas, Tahoe Reno, Atlanta, Grand Rapids and Austin.

About Switch

Switch, founded in 2000 by CEO Rob Roy, stands at the forefront as the leading data center campus designer, builder and operator. As the AI, cloud and enterprise data center experts, Switch provides the most modular, scalable and sustainable data centers to the most discerning clients. The company offers a comprehensive, future-proof portfolio ranging from highly dense liquid cooled AI to hyperscale cloud and the industry’s highest rated and most-secure enterprise data centers. To learn more, visit www.switch.com and follow Switch on LinkedIn, Facebook and X.

Media Contact:
newsroom@switch.com

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LAS VEGAS, April 21, 2026 — Switch, the premier provider of AI, cloud and enterprise data center infrastructure, today announced it has secured a $2.6 billion syndicated performance letter of credit (LC) facility, the first of its kind in the data center industry. The facility expands Switch’s ability to procure power at scale and supports the development of new transmission and generation resources across its growing portfolio of gigawatt-scale campuses.

The standalone performance LC facility, which is separate from Switch’s existing revolving credit and borrowing base facilities, backs obligations tied to new transmission and generation resources. Syndicating a standalone facility across multiple financial institutions enables Switch to access greater credit capacity at lower cost, while providing increased execution certainty to utilities and customers in power-constrained markets.

Switch operates two gigawatt-scale data center campuses in Nevada and even with that sizable footprint, power rates for Nevada residents declined year-over-year, defying broader nationwide increases in electricity costs.

The syndicated performance LC facility will be used to:

• Advance power procurement efforts
• Provide credit backing for new transmission and generation projects
• Enable timely execution of large-scale campus buildouts
• Support long-term cost management and pricing stability

“This facility represents a significant advancement in how digital infrastructure companies secure power at scale,” said Switch’s Chief Investment Officer, Jesse Burros. “Energy investments increasingly require credit support, and this broadly syndicated solution will lower our costs and streamline our ability to commit to large-scale development projects.”

Switch has now raised over $24 billion in financing since 2024 and has structured its balance sheet with investment-grade rated instruments on stabilized assets, along with over $10 billion of revolving capital commitments to fund new development.

Switch is building on decades of leadership and innovation in how the company approaches energy with this new financial solution.

“As data center industry growth drives demand for new transmission and generation in the U.S., developers and operators are seeking more efficient, lower-cost capital solutions,” said Jon Edwards, EVP and Head of Capital Markets at Switch. “Given the strong demand for this type of facility, we expect to upsize it as we continue to grow.”

“AI infrastructure requires reliable, around-the-clock power at a scale and speed that utility development timelines often cannot match on their own,” said Alise Porto, Switch’s SVP of Power and Sustainability. “To facilitate this growth, we actively partner with utilities by providing financial certainty to help expand energy infrastructure while also protecting local ratepayers.”

The performance LC facility was arranged with a syndicate of leading financial institutions. BBVA and Natixis Corporate & Investment Banking (Natixis CIB) served as structuring banks for the facility, initial coordinating lead arrangers and joint bookrunners. BNP Paribas, Citibank N.A. and Societe Generale acted as coordinating lead arrangers. CIBC, Rabobank, RBC, Scotiabank and SMBC acted as joint lead arrangers and Standard Chartered acted as mandated lead arranger. Natixis CIB will also serve as administrative agent.

Milbank LLP acted as legal counsel to Switch, and Paul Hastings acted as lenders’ counsel.

About Switch

Switch, founded in 2000 by CEO Rob Roy, stands at the forefront as the leading data center campus designer, builder and operator. As the AI, cloud and enterprise data center experts, Switch provides the most modular, scalable, and sustainable data centers to the most discerning clients. The company offers a comprehensive, future-proof portfolio ranging from highly dense liquid cooled AI to hyperscale cloud and the industry’s highest rated and most-secure enterprise data centers. To learn more, visit www.switch.com and follow Switch on LinkedIn, Facebook and X.

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LAS VEGAS, April 14, 2026 — Switch, a premier provider of AI, cloud and enterprise data centers, today announced the closing of an asset-backed securities (“ABS”) offering, raising approximately $768 million through its Series 2026-1 issuance. The Class A-2 Notes are rated AAA (sf), AA (low) and A (low) by DBRS Morningstar, with an anticipated repayment date of March 2031.

Net proceeds from the offering will be used to repay existing debt and for general corporate purposes. The transaction adds a Reno, Nevada-based data center of approximately 1.4 million square feet to the securitized portfolio. The facility contributes more than 52 MW of capacity and expands the trust into a fifth geographic market, further enhancing its scale and diversification.   

Following the issuance, Switch’s securitized pool includes 11 data centers across five U.S. markets, serving more than 550 customers. Approximately 84% of trust revenue is derived from customers with investment-grade credit profiles, underscoring the platform’s credit quality and stability. This transaction represents Switch’s fifth ABS issuance since 2024, bringing total ABS issuance during that period to approximately $4.2 billion. All of Switch’s ABS issuances qualify as secured green bonds, highlighting the company’s commitment to sustainability and responsible growth.

“The continued execution of our ABS program reflects the strength of our business and the consistency of our approach in the capital markets,” said Madonna Park, Chief Financial Officer of Switch. “Supported by strong visibility into long-term contracted demand from a high-quality customer base, we view securitization as a core funding strategy and remain focused on disciplined capital formation and a measured approach to leverage as we execute on our growth.”

“We appreciate the support from both new and long-standing investors,” said Jon Edwards, EVP, Head of Capital Markets at Switch. “This transaction underscores our consistent access to the ABS market across macro environments and is a testament to the quality of the Switch platform and the depth of our investor relationships.”

Separately, Switch was recently recognized with the North America MBS Issue of the Year at the 2026 IFR Awards for its $2.4 billion data center CMBS financing completed in 2025, reinforcing the company’s leadership in data center infrastructure capital markets.

Transaction advisors and counsel

Barclays and Citigroup served as co-structuring advisors and joint active bookrunning managers. BMO Capital Markets and Truist also participated as joint active bookrunning managers. Kirkland & Ellis LLP advised Switch, and Latham & Watkins LLP represented the underwriters.

About Switch

Switch, founded in 2000 by CEO Rob Roy, stands at the forefront as the leading data center campus designer, builder and operator. As the AI, cloud and enterprise data center experts, Switch provides the most modular, scalable and sustainable data centers to the most discerning clients. The company offers a comprehensive, future-proof portfolio ranging from highly dense liquid cooled AI to hyperscale cloud and the industry’s highest rated and most-secure enterprise data centers. To learn more, visit www.switch.com and follow Switch on LinkedIn, Facebook and X.

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CIFE, led by Martin Fischer, the Kumagai Professor in Stanford’s School of Engineering, pioneers research in integrated facility engineering, computational modeling and technology-driven project delivery.

The sponsorship will enable academic research on industry-driven topics and provide cutting-edge hands-on exposure to Switch’s innovation initiatives, including:

• Improved construction turnover with data center buildouts accelerating and producing increasing amounts of high-fidelity data, the research will explore how CIFE’s VDC research and Switch’s proven process discipline can shorten delivery cycles and improve the efficiency of capital deployment.
• Industrialized construction to achieve cost, quality and timeline improvements for Switch’s AI Factories^™ capital programs. Switch will leverage CIFE’s experience with providing an academic perspective on prefabrication, modularization of building components and design for manufacture (DFM) techniques.
• Innovative energy systems for enhanced sustainability will be explored through research testing the applicability of CIFE’s sustainability-focused facility life-cycle performance framework to define novel sustainability metrics to guide the scaling of AI infrastructure sustainably and predictably, to assess new commercial and technical models that improve grid-to-token efficiency and enhance grid interoperability.

“Industry-academic collaboration creates unique opportunities to push the boundaries of what is possible in digital infrastructure,” said Skyler Holloway, Vice President of Strategy and Portfolio at Switch.“By sponsoring research with CIFE, we’re combining Switch’s high-efficiency, sustainable data center design with CIFE’s capacity to accelerate innovation at a moment when the world needs it most.”

“Ensuring the sustainability of AI infrastructure is a planet-level challenge that demands both scientific rigor and bold industry leadership,” said Dr. Martin Fischer, the Kumagai Professor and director of CIFE. “This collaboration aims to deliver scalable, data-driven insights that can meaningfully influence how global infrastructure is designed, built and operated in the years ahead.”

Through this sponsored research, Switch aims to actively advance state-of-the-art practices for AI Factory delivery at scale by driving measurable impact, accelerating technology adoption and token-to-grid integration for a more intelligent and efficient future.

About Switch

Switch, founded in 2000 by CEO Rob Roy, stands at the forefront as the leading data center campus designer, builder and operator. As the AI, cloud and enterprise data center experts, Switch provides the most modular, scalable and sustainable data centers to the most discerning clients. The company offers a comprehensive, future-proof portfolio ranging from highly dense liquid cooled AI to hyperscale cloud and the industry’s highest rated and most-secure enterprise data centers. To learn more, visit www.switch.com and follow Switch on  LinkedIn, Facebook and X. 

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Simulation to Reality: Switch’s EVO AI Factories shown through digital twin simulation using NVIDIA Omniverse DSX Blueprint (left) and real-world deployment (right).

Switch’s Living Data Center (LDC) EVO transforms AI factories from human-managed infrastructure to an automated, intelligent system.

LAS VEGAS, NV – March 16, 2026 – Switch^® announced today that they have integrated the NVIDIA Omniverse DSX Blueprint into their EVO AI Factory^™ architecture and LDC EVO^™ operating system. LDC EVO, combined with NVIDIA Omniverse libraries and OpenUSD, delivers high-fidelity operations across Switch’s deployed portfolio. LDC EVO’s workflows, intelligence and modeling deliver live, physics-accurate visual representation of the EVO AI Factory.

Traditional data centers run on DCIM, or data center infrastructure management, where humans make decisions assisted by monitoring tools. AI factories operate at extreme density, creating operational complexity that exceeds what DCIM was designed to manage. LDC EVO replaces this model. LDC EVO presents the automation of every system in the facility in near real-time, maintaining an updated 3D digital twin of the complete AI factory, providing our people with unprecedented support and capabilities.

Every NVIDIA DGX deployment requires a facility engineered to its specifications. Switch’s EVO AI Factory is that facility. Switch enables its customers to deploy NVIDIA accelerated computing on Dell PowerEdge servers at extreme density from day one. Switch helped deliver deployments of NVIDIA Grace Blackwell on Dell PowerEdge servers in EVO AI Factories. LDC EVO presented capabilities to allow its customers to validate these hardware configurations before physical deployments.

Leadership Perspectives

“LDC EVO is the operating system for Switch’s EVO AI Factory, orchestrating the modular and configurable campus architecture that enables hybrid cooling and supports extreme AI densities,” said Zia Syed, Chief Technology Officer of Switch. “It’s built to operate every generation of NVIDIA reference design, including the Rubin DSX architecture. Leveraging NVIDIA Omniverse libraries and OpenUSD for digital twins, we’ve layered in automation workflows and operational intelligence to unify deployments. LDC EVO presents dynamic operations of an AI Factory at scale.”

“Gigawatt-scale AI factories require a shift toward autonomous, telemetry-driven infrastructure capable of orchestrating extreme power and cooling densities in real time,” said Vladimir Troy, Vice President of AI Infrastructure at NVIDIA. “The integration of the NVIDIA Omniverse DSX blueprint into the Switch LDC EVO operating system provides the high-fidelity simulation and operational intelligence necessary to optimize the deployment of next-generation NVIDIA AI infrastructure.”

The Switch Ecosystem

We brought together the expertise of leading suppliers across the AI infrastructure ecosystem including NVIDIA, Dassault Systèmes, Cadence, ETAP, Schneider Electric, SUSE, Dell Technologies, Oxide Computer Company and Procore Technologies, Inc.

Within LDC EVO^™, these collaborating technologies operate as integrated capabilities: thermal modeling, electrical simulation, reality capture, construction lifecycle management and facility telemetry are synchronized into a single presentational environment. The result is that teams can simulate, monitor and adjust operations—all within one interface that improves every operational cycle.

This will be showcased at NVIDIA GTC 2026, where Switch will feature its EVO AI Factory in the DSX AI Infrastructure Pavillion, Booth #91.

About Switch

Switch, founded in 2000 by CEO Rob Roy, stands at the forefront as the leading data center campus designer, builder and operator. As the AI, cloud and enterprise data center experts, Switch provides the most modular, scalable and sustainable data centers to the most discerning clients. The company offers a comprehensive, future-proof portfolio ranging from highly dense liquid cooled AI to hyperscale cloud and the industry’s highest rated and most secure enterprise data centers. To learn more, visit www.switch.com and follow Switch on LinkedIn, Facebook and X.

Cautionary Statement Regarding Forward‑Looking Statements

This press release may contain forward‑looking statements, including statements about our future operations, plans, objectives, expectations, or performance. These statements are based on current assumptions, estimates, and projections and are not guarantees of future results. Forward‑looking statements involve risks, uncertainties, and other factors—many of which are beyond our control—that could cause actual results to differ materially from those expressed or implied. These risks and uncertainties may include changes in market conditions, competitive pressures, operational challenges, economic factors, and other business risks. Readers are cautioned not to place undue reliance on forward‑looking statements, which speak only as of the date of this press release. We undertake no obligation to update or revise these statements in light of new information, future events, or otherwise.

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That long-term perspective was on full display during a recent Axios Fireside Chat at the Schneider Electric Innovation Summit, where Rob Roy sat down with Axios reporter Ben Geman to discuss the intersection of AI, energy and next-generation infrastructure. In the conversation, Rob Roy addressed some of the most pressing questions facing the industry today—from whether AI is a bubble, to how data centers can strengthen the power grid, to how AI energy needs will accelerate commercial fusion power by “two or three decades.” 

Below, you can watch the full Axios interview as Rob Roy outlines why AI is not just transforming data centers—but accelerating an energy renaissance that will shape the decades ahead. 

^{Axios. Used with permission. axios.com}

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RENO, Nevada., January 5, 2026 – Ormat Technologies Inc. (NYSE: ORA) (the “Company” or “Ormat”), a leading geothermal and renewable energy company, today announced the signing of a 20-year Power Purchase Agreement (PPA) with Switch, the premier provider of AI, cloud and enterprise data centers. This agreement represents Ormat’s first direct PPA with a data center operator, highlighting Ormat’s leading capabilities in geothermal energy production and the growing demand for sustainable energy solutions to serve the data center industry.

Under the terms of the agreement, Switch will purchase approximately 13MW of clean, renewable energy from Ormat’s Salt Wells geothermal power plant located near Fallon, Nevada. As part of the agreement Ormat has the option to further expand the facility’s output to Switch by adding an approximately 7MW Solar PV facility, which will serve the auxiliary power needs of the geothermal power plant. The combined output will help support the power needs of Switch’s Nevada data centers, aligning with their commitment to sustainability and carbon reduction.

Energy deliveries under the PPA are scheduled to commence in the first quarter of 2030, following the completion of a major upgrade to the Salt Wells power plant, which is expected to be finalized by the second quarter of 2026.

Doron Blachar, Chief Executive Officer of Ormat Technologies, commented, “We are excited to partner with Switch, a leader in the data center industry, to supply reliable, zero-emission power from our Salt Wells geothermal facility. This agreement not only advances Switch’s sustainability goals but also underscores the growing demand for renewable energy within the data center sector. Upon completion of the Salt Wells upgrade, we will be able to deliver approximately 13MW of geothermal energy to Switch, with the potential for further expansion through the addition of a Solar PV facility, highlighting both the enhanced revenue opportunities and strategic value of our power plants.”

Blacher concluded, “Additionally, as we launch this partnership, we see potential for future recontracting of over 100 MW of our existing fleet under this framework. We are encouraged at the opportunity to continue growing this relationship with potential PPA expansion as well as additional new agreements to supply geothermal power to Switch as they continue scaling their business into the strong demand backdrop for the data center industry and Switch’s specific capabilities.” 

“We are proud to enhance our diverse portfolio of renewable, Nevada-based energy sources and deepen our commitment to powering Switch’s data centers with renewable energy through this new long-term agreement with Ormat,” said Alise Porto, SVP of Energy & Sustainability at Switch. “As demand for AI and high-performance digital infrastructure accelerates, securing reliable, carbon-free baseload power is essential to supporting our customers and sustaining our growth. Geothermal energy offers the resiliency and sustainability profile required for the next generation of AI and cloud workloads, and this partnership enhances our ability to deliver world-class performance with a minimal environmental footprint. We look forward to continuing to scale the power needs of our campuses to meet the strong demand for our data center platform.”

About Ormat Technologies

With over five decades of experience, Ormat Technologies, Inc. is a leading geothermal company, and the only vertically integrated company engaged in geothermal and recovered energy generation (“REG”), with robust plans to accelerate long-term growth in the energy storage market and to establish a leading position in the U.S. energy storage market. The Company owns, operates, designs, manufactures and sells geothermal and REG power plants primarily based on the Ormat Energy Converter – a power generation unit that converts low-, medium- and high-temperature heat into electricity. The Company has engineered, manufactured and constructed power plants, which it currently owns or has installed for utilities and developers worldwide, totaling approximately 3,400MW of gross capacity. Ormat leveraged its core capabilities in the geothermal and REG industries and its global presence to expand the Company’s activity into energy storage services, solar Photovoltaic (PV) and energy storage plus Solar PV. Ormat’s current total generating portfolio is 1,618MW with a 1,268MW geothermal and solar generation portfolio that is spread globally in the U.S., Kenya, Guatemala, Indonesia, Honduras, and Guadeloupe, and a 350MW energy storage portfolio that is located in the U.S.

About Switch

Switch, founded in 2000 by CEO Rob Roy, stands at the forefront as the leading data center campus designer, builder and operator. As the AI, cloud and enterprise data center experts, Switch provides the most modular, scalable and sustainable data centers to the most discerning clients. The company offers a comprehensive, future-proof portfolio ranging from highly dense liquid cooled AI to hyperscale cloud and the industry’s highest rated and most-secure enterprise data centers. To learn more, visit www.switch.com and follow Switch on LinkedIn, Facebook and X.

Ormat’s Safe Harbor Statement

Information provided in this press release may contain statements relating to current expectations, estimates, forecasts and projections about future events that are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect or anticipate will or may occur in the future, including such matters as our projections of annual revenues and Adjusted EBITDA, expenses and debt service coverage with respect to our debt securities, future capital expenditures, business strategy, competitive strengths, goals, development or operation of generation assets, legal, market, industry and geopolitical developments and incentives, demand for renewable energy, and the growth of our business and operations, are forward-looking statements. When used in this press release, the words “may”, “will”, “could”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “projects”, “potential”, or “contemplate” or the negative of these terms or other comparable terminology are intended to identify forward-looking statements, although not all forward-looking statements contain such words or expressions. These forward-looking statements generally relate to Ormat’s plans, objectives and expectations for future operations and are based upon its management’s current estimates and projections of future results or trends. Although we believe that our plans and objectives reflected in or suggested by these forward-looking statements are reasonable, we may not achieve these plans or objectives.  Actual future results may differ materially from those projected as a result of certain risks and uncertainties and other risks described under “Risk Factors” as described in Ormat’s most recent annual report, and in subsequent filings.

These forward-looking statements are made only as of the date hereof, and, except as legally required, we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

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LAS VEGAS, November 19, 2025 – Schneider Electric, a global energy technology leader, and Switch, a premier provider of AI, cloud and enterprise data centers, today announced a two-phase supply capacity agreement (SCA) totaling $1.9 billion in sales. The milestone deal includes prefabricated power modules and the first North American deployment of chillers. The announcement was unveiled at Schneider Electric’s Innovation Summit North America in Las Vegas, convening more than 2,500 business leaders and market innovators to accelerate practical solutions for a more resilient, affordable and intelligent energy future.

Schneider Electric and Switch have evolved their longstanding partnership to support the growing AI and hyperscale computing demand of AI factories. Hyperscalers are growing rapidly to meet surging AI demand, which is projected to account for over 35% of global data center workloads by 2030, driving a 160% increase in data center power demand. By integrating advanced cooling and power technologies into Switch’s hyperscale data center designs and existing hybrid air and liquid cooling systems, the companies are laying the foundation for more resilient, scalable and future-ready infrastructure. The SCA model provides guaranteed capacity, advanced cooling solutions and full-service support, while preserving the flexibility needed for rapidly evolving AI workloads and customer requirements.

Critically, the solution is built to scale AI capacity without scaling energy demand. Uniflair chillers use oil-free, variable-speed centrifugal compressors and integrated free cooling to match capacity to real-time IT load, preventing overcooling and reducing run hours. Prefabricated power modules come with standardized, pretested layouts that optimize airflow and containment to increase economizer hours and reduce cooling energy compared with traditional builds.

“As AI continues to reshape the digital landscape, we see an opportunity not just to meet demand, but to define what the next generation of data centers can achieve,” said Vandana Singh, SVP of Secure Power North America at Schneider Electric. “By combining modular power, advanced cooling technologies, and a long-term service model, we’re helping create infrastructure that anticipates the future of AI workloads, making energy smarter, more adaptable, and more sustainable.”

The agreement is the largest cooling service engagement Schneider Electric has ever undertaken, with energy technologies including prefabricated power modules and Uniflair chillers, high-efficiency cooling systems for mission-critical environments. It also includes a three-year full-service contract for chillers, ensuring Switch customers benefit from reliable, long-term support.

Switch operates five exascale U.S. data center campuses across Las Vegas, Tahoe Reno, Atlanta, Grand Rapids and Austin. These facilities reside on thousands of acres with multi-gigawatt power capacities. Switch’s AI factories are engineered to power and cool up to 2MW per rack. These facilities position Switch at the leading edge of innovation with their purpose-built designs to support extreme density demands of next-generation AI workloads, aligned with NVIDIA’s DGX and MGX roadmaps.

“As the premium provider to the world’s leading companies, Switch is focused on enabling the next wave of AI and digital innovation through world-class infrastructure, said Jason Hoffman, Chief Strategy Officer at Switch. Expanding our relationship with Schneider Electric advances that mission as we pioneer a new class of AI-ready infrastructure, designed for operational insight, extreme efficiency and the flexibility to evolve as technology advances to meet the growing demand of our customers.”

About Schneider Electric

Schneider Electric is a global energy technology leader, driving efficiency and sustainability by electrifying, automating, and digitalizing industries, businesses, and homes. Its technologies enable buildings, data centers, factories, infrastructure, and grids to operate as open, interconnected ecosystems, enhancing performance, resilience, and sustainability. The portfolio includes intelligent devices, software-defined architectures, AI-powered systems, digital services, and expert advisory. With 160,000 employees and one million partners in over 100 countries, Schneider Electric is consistently ranked among the world’s most sustainable companies.

www.se.com

About Switch

Switch, founded in 2000 by CEO Rob Roy, stands at the forefront as the leading data center campus designer, builder and operator. As the AI, cloud and enterprise data center experts, Switch provides the most modular, scalable and sustainable data centers to the most discerning clients. The company offers a comprehensive, future-proof portfolio ranging from highly dense liquid cooled AI to hyperscale cloud and the industry’s highest rated and most-secure enterprise data centers. To learn more, visit www.switch.com and follow Switch on LinkedIn, Facebook and X.

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The Switch Vision: Integrated Excellence Across the AI Factory Lifecycle

Switch’s digital twin strategy is a vision for Integrated Excellence, creating a unified, real-time source of truth that guides informed, precise, and faster decisions. By spanning the entire lifecycle of an AI factory, we are removing the silos that typically separate specialized systems and teams.

Our goal is singular: to create a dynamic model that evolves with the scale and complexity of our facilities, ensuring everyone is aligned with a common, current reality.

A Pathway for Multi-Generation, Gigawatt-Scale Build-Outs

The Omniverse DSX Blueprint provides a dynamic, parametric modeling framework that serves as a living digital reference for every phase of AI Factory design, construction, and operation. This parametric foundation allows Switch to rapidly iterate and optimize across generations of EVO AI Factories, from site planning to rack-level deployment, all while maintaining accuracy and performance integrity at unprecedented scale.

The result is not just faster design cycles, but smarter ones: Switch’s Digital Twin enables the simulation of complex thermal, electrical, and mechanical systems, empowering engineers to fine-tune efficiency before a single beam is set.

Precision through Digital Integration

By integrating the Omniverse DSX Blueprint and the Omniverse platform with our proprietary LDC EVO (Living Data Center EVO) system, Switch brings together our IT and OT (Operational Technology) data into a single, mission-critical operational tool, providing Switch powerful insight for collaboration and analysis across every stakeholder. This allows Switch to design for the DNA of AI Factories: extreme power density capabilities (up to 2MW per rack), advanced hybrid air and liquid cooling infrastructure and the flexibility to co-evolve with NVIDIA’s accelerated roadmap from NVIDIA Blackwell infrastructure, to next-generation NVIDIA Rubin systems, and beyond.

Designers, engineers and operators can all interact within the same virtual environment, identifying design issues early through 3D model clash detection and constructability reviews. This integration transforms potential design conflicts into proactive improvements, saving time, cost, and resources.

Operational Excellence with Immersive Review 

Beyond construction, Switch is extending this digital capability into the operational phase. Through immersive design reviews teams can walkthrough operational processes within the Omniverse DSX Blueprint, allowing real-time exploration and simulation of maintenance and performance scenarios. This human-in-the-loop feedback not only enhances operational readiness but also drives continuous improvement throughout the facility’s lifecycle. 

Switch and NVIDIA are working together to redefine how AI infrastructure is efficiently designed, built, and operated, from the first watt to the next generation. 

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LAS VEGAS – October 20, 2025 – Switch, a premier provider of AI, cloud and enterprise data centers, today announced the closing of its fourth asset-backed securities (“ABS”) offering, raising nearly $659 million. The Class A-2 Notes are rated AAA, AA (low), A (low)and the Class B Notes are rated BBB (low) by DBRS Morningstar. This transaction marks Switch’s fourth ABS offering, bringing total ABS issuance to approximately $3.5 billion and making Switch the largest single issuer of data center ABS since 2024. All of Switch’s ABS issuances qualify as secured green bonds, underscoring the company’s commitment to sustainability and responsible growth.

Proceeds from this issuance will be used to fund Switch’s growth strategy, which includes ongoing development at each of its five campuses for Hyperscale, AI, and enterprise customers. In July 2025, Switch announced it had retired all $6.5 billion of bank debt incurred during its 2022 take-private. This ABS issuance marks Switch’s first securitization with proceeds dedicated entirely to fund new development.

This issuance reflects the strength and scalability of Switch’s enterprise ABS platform, which now encompasses 10 data centers across four geographically diverse campuses, serving nearly 500 customers, with over 70% of revenue generated from tenants rated investment grade. These strong credit characteristics led Switch to introduce the first AAA-rated tranche in non-hyperscale data center ABS, marking a sector milestone that reinforces the company’s leadership in data center capital markets.

“The success of this transaction, and the overall growth of our platform, clearly demonstrate that our formula of leading-edge technology combined with exascale campus deployments in Tier 1 markets continues to resonate with customers and investors alike,” said Madonna Park, Chief Financial Officer of Switch. “As our deep pipeline of fully leased multi-tenant and Hyperscale assets continues to stabilize, we expect to remain an active issuer across the ABS and broader capital markets.”

“With roughly $6 billion of stabilized asset financings completed to date, we have the scale and track record to continue to efficiently recycle capital while supporting the largest AI, cloud and enterprise customers, as they grow with Switch,” she added.

In addition to closing its ABS transaction, Switch was recently awarded “2025 Growth Story of the Year” by TMT Finance. Switch has also received recognition this year for its capital markets achievements by IJ Global, PFIA and Proximo Infrastructure.

Transaction Advisors and Counsel

Wells Fargo Securities, LLC served as Co-Structuring Advisor and Lead Left Bookrunner and RBC Capital Markets, LLC served as Co-Structuring Advisor and Joint Active Bookrunning Manager. Morgan Stanley, TD Securities and Truist served as Joint Active Bookrunning Managers. Kirkland & Ellis LLP advised Switch, and Latham & Watkins LLP represented the underwriters.

About Switch

Switch, founded in 2000 by CEO Rob Roy, stands at the forefront as the leading data center campus designer, builder and operator. As the AI, cloud and enterprise data center experts, Switch provides the most modular, scalable and sustainable data centers to the most discerning clients. The company offers a comprehensive, future-proof portfolio ranging from highly dense liquid cooled AI to hyperscale cloud and the industry’s highest rated and most-secure enterprise data centers. To learn more, visit www.switch.com and follow Switch on  LinkedIn, Facebook and X. 

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