Key points
- SharonAI (SHAZ) signed a five-year, $373 million cloud deal on August 4 and rose 6% on the day, with more gains Wednesday.
- The unnamed customer starts with 2,048 Nvidia Blackwell Ultra B300 GPUs in Australia, and revenue begins in Q1 2027.
- Contracted capacity is now 120MW of SharonAI's 132MW platform, up from 116MW at the July deal.
- The stock fell on both of the bigger 2026 deals: $1.25 billion in April and $1.32 billion in July.
On Tuesday, SharonAI (SHAZ) revealed a five-year deal for cloud computing totaling $373 million, and the stock closed up 6% at $55.52. The stock gained another 2.5% on Wednesday and was trading around $57 in the early afternoon. The two previous deals earlier this year were both more than three times larger, and the stock sold off on both announcement days.
According to the deal announced in an SEC filing made before the opening bell Tuesday, SharonAI will provide cloud computing capacity on its AI infrastructure in Australia to a customer described only as a global artificial intelligence platform. The filing didn't name the company. The first deployment is expected to consist of 2,048 Nvidia Blackwell Ultra B300 GPUs, and SharonAI sees revenue beginning in the first quarter of 2027.
The contract ramps SharonAI's pledged power to 120MW of the 132MW total across its AI Factory platform. When the firm unveiled its previous contract in July, that number was 116MW. So too have the GPU numbers increased. SharonAI is now forecasting 64,000 Nvidia GPUs across its sites by mid-2027, up from the 62,000 it declared in July.
The stock fell on the bigger deals
However, $373 million is the smallest cloud contract SharonAI has announced this year. The company signed a $1.32 billion, five-year deal with an unnamed AI lab on July 16, its first deployment in New Zealand, and the stock closed down 7.1% that day. In April it signed a $1.25 billion, five-year agreement with ESDS Software Solutions for an Australian data center.
The new contract works out to just under $75 million a year over its term. The July contract averages $264 million.
SharonAI had also just raised a large amount of money when those deals landed. The company closed a $1.6 billion financing on June 29 that added around 13 million new shares, and we went through the share count in July: 35.4 million shares outstanding as of July 2, per the company's own proxy statement. The stock traded as high as $97.48 on June 17, before the financing closed. It hasn't been back near that level since.
The customer is unnamed, again
Neither of SharonAI's two five-year cloud customers has been identified. The July counterparty was described in that filing as a global artificial intelligence lab. This one is a global artificial intelligence platform. No outside reporting has named either company.
SharonAI isn't the only company with Australia plans. A confidential tender reported by Australian media in July had Anthropic weighing about $15 billion for 1.4 gigawatts of data center capacity in Australia, with a final decision expected around the middle of August. SharonAI's entire platform is 132 megawatts. Tuesday's filing doesn't connect the two.
Leopold Aschenbrenner's Situational Awareness fund disclosed a 19.9% stake in SharonAI in a June 30 Schedule 13G filing. Which positions the fund still holds after selling its levered stock book to Citadel in July remains an open question.
James Manning, SharonAI's co-founder and chief executive, called the agreement "an important milestone in the continued expansion of Sharon AI's customer base and contracted AI infrastructure capacity."
"We continue to see strong demand for AI infrastructure in Australia and across the Asia-Pacific region," Manning said, "and this agreement reflects our strategy of securing long-term customer commitments as we expand our AI Factory platform."
