Sharon AI Secures US$356m GPU-Backed Debt at 9.95% Rate

Sharon AI Holdings Inc. (NASDAQ: SHAZ) has entered into its first US$356 million committed senior secured, GPU-backed debt facility, priced at a fixed rate of 9.95% excluding fees. The company, an Australian neocloud provider, stated that the facility is secured against GPUs and associated cash flows, with proceeds dedicated to deploying compute infrastructure for customer contracts.

The transaction includes participation from Goldman Sachs and select large private credit funds, described by the company as major Australian, Asian, and global investors. Jarden Australia acted as the sole financial advisor and arranger for the deal. Sharon AI identified this facility as the first in an expected series of GPU financings supporting the scheduled buildout of over 68,000 NVIDIA GPUs by mid-2027.

With the closing of this transaction, Sharon AI reported having secured over US$2.6 billion in institutional debt and equity capital over the past 10 months. The company said this extends its capital markets program and reflects its ability to access diversified sources of capital while scaling its AI infrastructure platform for a customer base that includes hyperscale, AI native, government, enterprise, and research organizations.

James Manning, Co-founder and Chief Executive Officer of Sharon AI, stated that access to scalable debt capital is a key enabler of growth as demand for sovereign and secure AI infrastructure outpaces supply in Australia, New Zealand, and the broader Asia-Pacific region. Manning noted that the facility demonstrates how the company expects to access debt markets to fund GPU deployments by leveraging its customer offtake book, which he said now stands at a total contract value of over US$8.8 billion. He added that the structure is designed to enhance return on equity and drive long-term shareholder value.

The company characterized its current position as supported by a strong balance sheet, a growing contracted capacity pipeline, and a disciplined approach to capital allocation. Sharon AI is working toward delivering gigawatt-scale AI compute capacity across Australia, New Zealand, and the broader Asia-Pacific region.

The press release included standard forward-looking statements cautioning that projections and future events are subject to uncertainties and risks. The company noted that actual results may differ materially from those set forth in its disclosures, referencing risk factors in its most recent Annual Report on Form 10-K filed with the SEC.