Las Vegas data-center owner Switch has borrowed more money to fuel its expansion amid an all-but insatiable need for digital storage space.

Switch announced this week that it raised nearly $659 million through a bond sale. The company said it would use the proceeds to fund its growth strategy, including ongoing development at its data-center campuses in Las Vegas and other locations around the country.

It raised the money through so-called asset-backed securities and said it had now borrowed around $3.5 billion through this type of financing since last year.

This past summer, Switch announced an expansion of its borrowing base and revolving credit lines to $10 billion, saying it had now raised $20 billion since 2024 through “sustainable financing structures,” including so-called green l

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