How is Switch Building AI-Ready Sustainable Data Centres?

Switch has been named 14th in Data Centre Magazine's Top 100 Data Centre Companies list for 2025, recognising the Las Vegas-based operator's position in AI infrastructure and sustainable data centre operations. 

The company operates five exascale campuses across the US, all powered by 100% renewable energy since January 2016, while developing AI factories designed to handle more than 2MW per cabinet.

Capital markets and green financing

Switch has raised nearly US$659m through its fourth asset-backed securities (ABS) offering in October 2025, making the Las Vegas-based company the largest single issuer of data centre ABS in that period. 

The Class A-2 and Class B Notes achieved credit ratings from DBRS Morningstar ranging from AAA to BBB (low), with the company introducing the first AAA-rated tranche in non-hyperscale data centre ABS. 

All Switch ABS issuances qualify as secured green bonds, reinforcing the company's position in sustainable digital infrastructure finance. 

The firm was recently named 2025 Growth Story of the Year by TMT Finance, with further recognition from IJ Global, PFIA and Proximo Infrastructure for its capital markets performance.

EVO AI factories and exascale campuses

Switch operates five exascale data centre campuses across Las Vegas, Tahoe Reno, Atlanta, Grand Rapids and Austin, spanning thousands of acres with multi-gigawatt power capacities. 

The company is developing AI factories using Founder and CEO Rob Roy's EVO design, which features hybrid air and liquid cooling systems engineered to power and cool more than 2MW per cabinet. These facilities are purpose-built to support the extreme density demands of next-generation AI workloads, aligned with Nvidia's DGX and MGX roadmaps.

Construction is underway on AI factories across all five Switch campuses. In Las Vegas, the company is developing facilities at the southwest corner of the Jones Boulevard-215 Beltway interchange, with two buildings spanning 199,000 sq ft and 228,000 sq ft.

Madonna Park, Chief Financial Officer at Switch said: "Our campuses span millions of square feet with multi-gigawatt power capacities.

"This gives us the ability to secure large, concentrated power loads and unlock economies of scale that others can't match."

The Citadel Campus in Tahoe Reno covers more than 7.2 million sq ft with capacity for up to 650MW of power. The Core Campus in Las Vegas encompasses multiple data centres with up to 2 million sq ft of space and 275MW of capacity. Switch's enterprise ABS platform now covers ten operational data centres across four major US regions, serving nearly 500 customers, with more than 70% of revenue generated from investment-grade tenants.

00% Renewable energy operations

Since January 2016, all Switch data centres have been powered by 100% renewable energy, positioning the company as an industry leader in sustainable operations.

The firm sources power from large-scale solar partnerships, including Switch Station 1 and Switch Station 2, which together produce 179MW of power at the Apex Industrial Park in Nevada. 

These solar plants serve Switch facilities in both Reno and Las Vegas, with renewable energy costs equivalent to 4.9 cents per kilowatt hour.

Switch maintains a power usage effectiveness (PUE) of 1.18, among the sector's most efficient ratings. The company has implemented a net positive water strategy through projects under development that will balance and restore its corporate water footprint. 

Proprietary water processing technology enables water reuse and eliminates chemicals from cooling systems, with Switch identifying and leading water improvement projects in communities where it operates.

Jason Hoffman, Chief Strategy Officer at Switch, said: "Today, AI data centres are emerging as a similarly transformative load; we are once again in the process of building on the order of tens of gigawatts of new capacity.

"The difference is who is driving it. The companies at the top, worth trillions, are the very ones deploying AI."

Patented technology and capital structure

Rob Roy, who founded Switch in 2000, has developed more than 950 issued and pending patent claims covering data centre designs. The company's modular design approach, including the MOD 100 and MOD 250 products, enables rapid deployment of infrastructure to meet current and future requirements. 

Switch operates as an unregulated utility in Nevada under a 704B designation, allowing the company to handle infrastructure including networks, substations, transmission lines and power generation.

"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," Madonna said.

"As our deep pipeline of fully leased multi-tenant and hyperscale assets continues to stabilise, we expect to remain an active issuer across the ABS and broader capital markets."

Switch was taken private in December 2022 through a US$11bn acquisition by DigitalBridge and IFM Investors. In July 2025, the company announced it had expanded its borrowing base and revolving credit facilities to US$10bn, raising US$20bn since 2024 through sustainable financing structures, including green loans and green bonds. 

The proceeds support growth across campuses, reduce cost of capital and fund the expansion of AI factories designed to handle computing power-packed workloads that differ from traditional data centre operations focused on data storage.

The company's 14th place ranking in Data Centre Magazine's Top 100 list reflects its performance across capital markets, AI infrastructure development and renewable energy operations. 

With construction underway on AI factories across all five campuses and continued expansion of its asset-backed securities platform, Switch continues to scale operations to meet demand for high-density computing infrastructure from hyperscale and enterprise customers.