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A potential initial public offering from data center firm Switch may mark the start of a shift back toward Wall Street that some industry leaders believe is inevitable. 

Switch’s owners are considering returning the Las Vegas-based data center operator to public markets with an initial public offering that would value the company around $40B, Reuters reported earlier this month. 

It would be the first IPO of a major data center firm in nearly half a decade, a period in which many of the largest data center firms fled public markets amid consensus that private capital was the best way to fund the industry’s record growth.