Sharon AI Secures $373 Million Cloud Deal as Pipeline Hits $8.8 Billion Despite Q2 Revenue Miss

Sharon AI Secures $373 Million Cloud Deal: What Investors Need to Know - SharonAI Holdings (NASDAQ:SHAZ)

Here's what investors need to know. * SharonAI Holdings stock is charging ahead with explosive momentum. Why is SHAZ stock up today? Deal Advances Australia's Sovereign AI Infrastructure Push The initial deployment under the agreement will feature 2,048 NVIDIA Blackwell Ultra B300 GPUs. The deal leaves Sharon AI with 120 megawatts of its 132-megawatt total AI Factory capacity contracted to end customers. To meet growing demand, the company plans to increase its total hardware capacity from 62,000 to 64,000 NVIDIA GPUs across its platform by mid-2027. Sharon AI says the agreement reinforces Australia's initiative to expand sovereign artificial intelligence infrastructure and establish a regional hub across the Asia-Pacific market. The high-performance compute capacity gives domestic businesses, researchers and government organizations direct local access to world-class processing power. "This agreement represents an important milestone in the continued expansion of Sharon AI's customer base and contracted AI infrastructure capacity," said James Manning, co-founder and chief executive officer of Sharon AI. "As organizations increasingly seek access to sovereign, high-performance AI compute, we remain focused on delivering scalable infrastructure that supports the evolving needs of AI platforms, enterprises and governments." SHAZ Shares Climb Tuesday Morning SHAZ Price Action: SharonAI Holdings shares were trading 3.34% higher at $54.14 at the time of publication on Tuesday, according to Benzinga Pro data. Image: Shutterstock Market News and Data brought to you by Benzinga APIs To add Benzinga News as your preferred source on Google, click here.

SharonAI Q2 2026 slides: $8.8bn pipeline offsets revenue miss By Investing.com

SharonAI Holdings presented its second-quarter 2026 results on August 6, 2026, highlighting significant expansion in contracted capacity and customer commitments even as the Australian AI infrastructure company reported revenue well below analyst expectations. The presentation emphasized the company's transition from planning to execution, with CEO James Manning outlining $8.8 billion in total contract value secured year-to-date and 212MW of AI factory capacity now in place. The company's actual financial performance, however, showed the challenges of the build-out phase. Revenue of $1.93 million fell short of the $7.54 million analyst consensus by 74.4%, while the adjusted loss per share of $26.16 significantly exceeded the forecasted loss of 47 cents. Shares declined 8.54% to $52.15 in regular trading before recovering modestly in after-hours trading as investors weighed near-term results against a substantially larger contracted pipeline. Quarterly Performance Highlights As shown in the following financial summary, SharonAI reported year-over-year revenue growth of 412% in the second quarter, though from a minimal base. Revenue reached $1.93 million in Q2 2026 compared to $0.38 million in the prior-year period, while gross profit turned positive at $1.2 million versus a slight loss in Q2 2025. The company's operating loss widened to $12.1 million from $2.6 million, reflecting increased spending on sales, general and administrative expenses as the organization scales. The reported net loss of $430.4 million appears dramatic but included approximately $423 million in non-cash items, primarily a $400.4 million fair value loss on convertible notes resulting from share price appreciation. This accounting treatment reflects the conversion feature becoming more valuable as the stock price rose during the quarter. More significantly for operational performance, the company reported positive adjusted EBITDA of $0.6 million, a $2.3 million improvement from the negative $1.7 million in Q2 2025. This non-GAAP metric excludes fair value remeasurements, foreign currency movements, and other non-operating items that management considers less relevant to core business performance. The following reconciliation details how the company arrives at its adjusted EBITDA figure: The company's cash position strengthened substantially to $1.86 billion as of June 30, 2026, up from $71.1 million at year-end 2025, driven by the capital raising activities detailed later in this analysis. Strategic Partnership Developments The centerpiece of SharonAI's presentation was a six-year strategic collaboration with NVIDIA that the company described as "first-of-its-kind." This partnership positions SharonAI as a preferred NVIDIA Cloud Partner with access to scarce next-generation GPU allocations. The following slide illustrates the key parameters of this anchor relationship: The NVIDIA agreement provides for 72MW of capacity supporting up to 40,000 GB300 GPUs over six years on a take-or-pay basis, generating minimum contracted revenue of $4.9 billion. At implied base rates, this translates to approximately $817 million in average annual revenue from this single relationship. Importantly, the structure allows SharonAI to resell capacity to end customers at prevailing market rates while retaining the benefit of the anchor pricing. As the company explained in its presentation materials, this creates a compounding economic model: The take-or-pay structure means NVIDIA commits to payment regardless of actual utilization, providing revenue certainty that supports financing for the infrastructure build-out. When SharonAI sells capacity to other customers at higher spot rates, it retains 100% of the anchor price and shares in upside above that level. Beyond NVIDIA, SharonAI outlined a comprehensive partner ecosystem spanning compute, data centers, networking, storage, and hardware. The following diagram shows the integrated infrastructure platform: Key partnerships include NEXTDC, Equinix, GreenSquare, and CDC for data center capacity; Cisco for networking; VAST Data for storage (with a 600 petabyte commitment); and Lenovo and Dell for hardware lifecycle management. This ecosystem approach allows SharonAI to orchestrate best-in-class components without owning all infrastructure elements. Capacity and Contract Momentum The presentation emphasized dramatic growth in both secured capacity and contracted commitments during the first half of 2026. Total AI factory capacity expanded from 54MW in February to 212MW as of August 6, with an 80MW addition announced in the most recent update. The following chart visualizes this capacity expansion over time: Of the 212MW total, 120MW is now under contract through multi-year take-or-pay agreements, leaving 92MW of announced but uncontracted capacity available for future customer commitments. The sharp acceleration in contracted capacity from 2MW in February to 120MW by August demonstrates the pace at which customer agreements are being finalized. Total contract value showed similarly strong growth throughout the year, as illustrated in the following cumulative chart: Beyond the $4.9 billion NVIDIA anchor, major customer wins included: * A five-year agreement with a global AI lab valued at $1.32 billion * A five-year contract with a global technology company worth $950 million * A five-year agreement with a global AI platform for $373 million, including deployment of 2,048 B300 GPUs * Earlier contracts with ESDS, Canva, and GMI totaling $1.3 billion The company indicated that 92MW of secured capacity remains available for contracting, providing visibility into potential additional TCV as those megawatts are allocated to customers. Management highlighted that recent contracts achieved record pricing above $4 per GPU hour, indicating strong demand in a supply-constrained market. The company expects to deploy more than 64,000 NVIDIA GPUs by mid-2027 across its Australian and New Zealand AI factories. Financial Position and Capital Strategy SharonAI raised approximately $2.2 billion in capital since December 2025 to fund its infrastructure build-out, as detailed in the following financing summary: The largest component was a $1.6 billion oversubscribed strategic financing completed in June 2026, consisting of $900 million in common stock and $700 million in convertible notes. This followed a $350 million convertible note offering in April and a $125 million Nasdaq IPO in February. The company also recycled $74 million from divesting its TCDC business into the AI Cloud Infrastructure Platform, demonstrating capital discipline in focusing resources on the core AI infrastructure opportunity. The substantial cash position of $1.86 billion provides runway for the near-term build-out, though management acknowledged it is in advanced discussions on debt facilities and expects to access additional capital markets in the near term. The company emphasized it will not add capacity without financing and customer contracts in place, avoiding speculative expansion. On the governance front, SharonAI made several senior appointments during the quarter, including Anuj Goel as CFO, Melissa Anastasiou as Chief Legal Officer, and Andrew Penn AO as Non-Executive Chairman, strengthening the leadership team as the company scales operations. Forward-Looking Statements The presentation outlined an optimistic outlook based on secured capacity and contracted demand, though actual Q2 results showed the company remains in the early stages of converting those commitments into recognized revenue. Management's forward-looking statements included four key points: 1. Demand continues to materially outweigh supply, with 212MW capacity secured for deployment by end of 2027 and contracting visibility extending through 2031 2. The company is well funded for near-term build-out following the $1.6 billion financing, with a growing pipeline of additional capacity 3. Revenue is expected to ramp materially from Q3 2026 through 2027 as larger scale deployments come online 4. More than 64,000 NVIDIA GPUs are expected to be deployed by mid-2027 In the earnings call, CEO Manning stated the company expects "the first material revenue to commence in the fourth quarter of 2026 as large-scale B300 and GB300 deployments come online." This timing explains the significant gap between current quarterly revenue of less than $2 million and the multi-billion dollar contracted pipeline. The company's global connectivity infrastructure supports both training and inference workloads, as shown in the following latency map: With low-latency connections to major markets across Asia-Pacific, Europe, and North America, SharonAI positions its Australian-hosted infrastructure as serving both local sovereign computing requirements and global AI workloads. The presentation emphasized that take-or-pay contracting ensures 100% utilization once capacity is deployed, with customers paying monthly for reserved capacity regardless of actual usage. This model provides revenue predictability but requires successful execution on hardware procurement, data center installation, and system configuration before billing can commence. Management noted that hardware delivery timing from suppliers such as Supermicro remains a key risk to the revenue ramp, along with data center readiness for new capacity. The company's ability to meet its mid-2027 deployment target of 64,000+ GPUs will depend on navigating these supply chain and infrastructure challenges. Wall Street analysts maintain price targets ranging from $110 to $124, well above the current trading level near $52, though independent valuation analyses suggest the stock may already reflect significant growth expectations. The wide gap between current revenue and contracted pipeline means investors are effectively pricing in successful execution of the multi-year deployment plan rather than current financial performance. Full presentation: This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Earnings call transcript: SharonAI Q2 2026 miss offsets strong pipeline growth By Investing.com

SharonAI reported a wider-than-expected second-quarter loss and revenue well below Wall Street forecasts, even as the AI infrastructure company said it had sharply expanded contracted demand, secured capacity and capital. The company posted an adjusted loss of $26.16 a share on revenue of $1.93 million, compared with analyst estimates for a loss of 47 cents a share on revenue of $7.54 million. Shares fell 8.54% in regular trading to $52.15, then recovered 1.63% in after-hours trading to $53 as investors weighed the weak near-term figures against a much larger pipeline and higher future revenue expectations. Key Takeaways * SharonAI said it executed about $8.8 billion in total contract value year to date, up from $2.2 billion at the start of the first quarter. * Secured AI factory capacity rose to 212 MW, including an 80 MW addition in the quarter. * The company said 120 MW of that capacity is already contracted through multi-year take-or-pay agreements. * Management expects first material revenue in Q4 2026 as B300 and GB300 deployments ramp. * The company said recent contracts reached record pricing above $4 per GPU hour. Company Performance SharonAI's second quarter was defined by expansion rather than earnings power. The company is still in the early stages of turning contracted capacity into revenue, and management said the business is moving toward a larger deployment phase later this year and into 2027. The company said its contracted book and capital base have grown quickly. It also highlighted a six-year strategic compute collaboration with NVIDIA, which it said gives it access to scarce GPU supply and a minimum revenue floor. Management described the quarter as one in which the three key inputs for growth -- capacity, customer demand and capital -- all improved meaningfully. The results also reflect the nature of the AI infrastructure market, where demand is strong but hardware delivery, data center readiness and power availability can delay revenue recognition. That makes current-quarter results less important than the pace of deployment, though the size of the earnings miss still drew a sharp market response. Financial Highlights * Revenue: $1.93 million, below the $7.54 million forecast. * EPS: loss of $26.16, versus a forecast loss of 47 cents. * Total contract value: $8.8 billion year to date, up from $2.2 billion at the start of Q1. * Secured AI factory capacity: 212 MW, up 80 MW from the prior guidance of 132 MW. * Contracted capacity: 120 MW under multi-year take-or-pay agreements. * Available secured capacity: 92 MW remains open for future customer contracts. * Capital raised: about $2.2 billion since December 2025. * NVIDIA collaboration: $4.9 billion in TCV over six years, tied to 72 MW and 40,000 GB300s. * Storage commitment: expanded VAST Data partnership to 600 petabytes. * Deployment target: more than 64,000 GPUs by mid-2027. Earnings vs. Forecast SharonAI missed expectations by a wide margin. The company reported a loss of $26.16 a share, compared with the consensus estimate for a loss of 47 cents. That is a difference of $25.69 a share, or more than 54 times the expected loss. Revenue of $1.93 million also fell short of the $7.54 million forecast by $5.61 million, a miss of 74.4%. The size of the miss is notable even for a company in a build-out phase. The company's gross profit margin stands at negative 9.29% for the last twelve months, reflecting the early-stage nature of operations. According to SHAZ">InvestingPro analysis, analysts do not anticipate the company will be profitable this year. But management said the quarter came before the main revenue ramp, which it expects to begin in the fourth quarter of 2026. In that sense, the shortfall appears to reflect timing and deployment delays more than a breakdown in demand. Still, the market often reacts strongly when a company misses both EPS and revenue by this much, especially after a strong stock run. The results suggest investors are being asked to pay close attention to future execution rather than current profitability. Market Reaction The stock ended the regular session at $52.15, down 8.54% from the previous close of $57.02, before rising to $53 in after-hours trading. That after-hours gain of 1.63% trimmed some of the day's losses, but the shares remained below the prior close. The stock's move suggests an initial negative reaction to the earnings miss, followed by some buying interest after management outlined a large contract backlog and a stronger second-half and 2026-27 outlook. The shares are still well above the low end of their 52-week range of $1 and below the high of $97.48, underscoring both the scale of the rally and the volatility that has come with it. No trading volume data was provided, so it is not possible to determine whether the move came with unusually heavy turnover. Outlook & Guidance Management said the first material revenue should begin in Q4 2026 as large-scale B300 and GB300 deployments come online. It also said the company is targeting more than 64,000 GPUs deployed by mid-2027 across Australia and New Zealand. Wall Street analysts maintain a bullish consensus rating with price targets ranging from $110 to $124, well above the current trading level. However, InvestingPro's Fair Value analysis suggests the stock may be slightly overvalued at current levels -- a perspective that contrasts with the street's optimism and highlights the importance of independent valuation tools. The company's longer-term plan includes: * 212 MW of secured AI factory capacity by the end of 2027. * Continued deployment of the NVIDIA-backed AICP program, including 40,000 GB300s. * Full billing on the latest AICP cluster expected in Q3 2027. * Early planning for Vera Rubin deployments in late 2027 and early 2028. * Contracting visibility extending through 2031. Management said it will continue to add capacity in a measured way, with signed contracts and financing in place before new commitments are made. It also said the company is in advanced discussions on debt facilities and expects to come to market near term. Executive Commentary Chief Executive James Manning said the company has "materially increased each of the three inputs required to scale this business: AI factory capacity, contracted customer demand, and capital." He also said, "We expect the first material revenue to commence in the fourth quarter of 2026 as large-scale B300 and GB300 deployments come online." On the company's NVIDIA deal, Manning called it "a first-of-its-kind partnership," adding that it provides an anchor commitment and a minimum revenue floor while also allowing the company to charge higher rates for some capacity. Manning said the latest contracts showed record pricing, with one agreement above $4 per GPU hour, which he described as evidence that demand remains strong in a supply-constrained market. Risks and Challenges * Hardware delivery delays: Management said timing from suppliers such as Supermicro remains a key risk to the revenue ramp. * Data center readiness: New capacity must be physically ready before revenue can begin, making execution timing critical. * Dependence on future contracts: Much of the story depends on converting secured capacity into signed, billable deals. * Capital discipline: The company said it will not add capacity without financing and customer contracts in place. * Market concentration: The business depends heavily on a tight GPU supply market, which could change if supply improves. Q&A Analysts focused on capacity expansion, pricing, contract duration and the pace of revenue conversion. Questions centered on: * The source of the additional 80 MW of capacity, which management said came from a new partner solution. * Whether the company would prioritize reselling NVIDIA-backed capacity or using the remaining 92 MW of open capacity. * Customer demand for 3- to 5-year contract terms, which management said is the norm. * Storage needs, with customers asking for more dense storage than older reference designs. * Vera Rubin pricing and customer interest, which management said is already strong even though formal pricing has not started. * The timing of the 64,000 GPU target, which management said is based on contracted demand rather than speculative demand. Manning said the market is constrained in every region, including North America, Asia and Australia, and said the company is focusing on a balanced customer mix across geographies and customer types. He also said the company is "not going YOLO capacity," underscoring that future expansion will depend on contracts and financing. Full transcript - SharonAI Holdings Inc (SHAZ) Q2 2026: Operator: Good day everyone. Welcome to the SharonAI second quarter 2026 conference call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note this conference is being recorded. It is now my pleasure to hand the floor over to your host, Ross Barrows, Head of Capital Strategy and Investor Relations. Sir, the floor is yours. Ross Barrows, Head of Capital Strategy and Investor Relations, SharonAI: Good afternoon. Welcome to our earnings call to discuss SharonAI's operating results for the quarter ended June 30, 2026. Joining me today is James Manning, SharonAI's Chief Executive Officer, and Tim Broadfoot, SharonAI's Chief Financial Officer. I'll now take a moment to read the safe harbor statement. During the course of this conference call, we may make certain forward-looking statements within the meaning of the Federal securities laws, including statements regarding our expectations, plans, prospects, strategies, future operating results, and financial performance. Although they may reflect our current expectations and are based on our current view of the industry and our business, they are not guarantees of future performance. These statements are subject to risks and uncertainties that could cause our actual results to be materially different from those expressed in these statements and speak only as of the date of this call. For more details on factors that could affect these expectations and cause these differences, please see our most recent Form 10-K and Form 10-Q and other SEC reports filed with the Securities and Exchange Commission, and available on the SEC's website and in the investor relations section of our website. SharonAI undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information or future events. In addition, during this call, we may discuss certain non-GAAP financial measures. Reconciliations to the most directly comparable GAAP measures and related disclosures are available in today's earnings release and/or on our investor relations website. I'll now turn the call over to James. Hello everyone. Welcome to SharonAI's second quarter 2026 earnings call. I'm James Manning, CEO and co-founder of SharonAI. I'll begin with the highlights from the quarter and an overview of our market position. James Manning, Chief Executive Officer and Co-founder, SharonAI: I'll then cover some of our recent customer wins. I'll talk about some of the additional capacity and our capital strategy moving forward. The central message from the quarter is that we have materially increased each of the three inputs required to scale this business: AI factory capacity, contracted customer demand, and capital. Let me give you the headline numbers first. I'll unpack them. As of today, we have 212 MW of total secured AI factory capacity across Australia and New Zealand, which is an upgrade of 80 MW from our last guidance of 132 MW. 120 MW are contracted through multi-year take-or-pay agreements. I'll expand further on the updated capacity shortly. We expect to have more than 64,000 NVIDIA GPUs deployed by mid-2027. Ross Barrows, Head of Capital Strategy and Investor Relations, SharonAI: We've raised approximately $2.2 billion USD of capital since December 2025. We've executed roughly $8.8 billion of total contract value year to date. Three months ago, our portfolio was comprised of 100 megawatts of capacity and $2.2 billion of TCV. The contracted book has grown by roughly four times, and our secured capacity has more than doubled since. That demonstrates both the strength of demand and our ability to expand our supply to meet it. On customers, the standout is a six-year strategic compute collaboration with NVIDIA, worth $4.9 billion in total contract value. Alongside that, we have signed a five-year take-or-pay agreement with a global AI lab worth $1.32 billion and a five-year take-or-pay agreement with a global technology company worth $950 million. A few days ago, we secured a five-year take-or-pay agreement with a global AI platform worth $373 million in TCV. Notably, this is a B300 deployment with a record price of over $4 per GPU hour. On platform, we have a growing pipeline beyond our announced capacity. We've expanded our partnership with VAST Data to 600 petabytes of storage commitment, providing sufficient backend infrastructure support continued growth of up to 100,000 GPUs. On capital and governance, we completed a $1.6 billion oversubscribed financing round in June, which followed a $350 million convertible note in April. We've made three significant leadership appointments. Anuj Goel, formerly of Macquarie Group, joins as our CFO. Melissa Anastasiou joins as our chief legal officer. Andrew Penn has been appointed as a non-executive chairman of the board. Bringing in senior leadership of Andrew, Anuj, and Melissa's caliber strengthens our governance and ability to execute SharonAI, as SharonAI enters its next phase of growth. I'm delighted to welcome the multiple new team members we have added across the organization, including technical, operations, and sales to the team. SharonAI is a leading Australian NeoCloud and trusted AI infrastructure partner. Sharon is purpose-built to power the next generation of artificial intelligence and high-performance computing. We do so through our partner-led ecosystem, enabling our customers to confidently build, train, and deploy AI that drives productivity, innovation, and growth for their customers and themselves. What that practically means is we design and operate AI infrastructure optimized for large-scale training, inference, and high-performance compute. We deliver GPU-as-a-service, AI platform layers, and high-performance storage as one integrated solution. We serve enterprise, government, hyperscaler, and AI natives. I'm often asked why are we well-positioned. I like to think of it this way. Our NVIDIA Cloud Partner status supports our prioritized access to NVIDIA's latest generation of GPUs. Our networking storage and orchestration are purpose-built for AI and HPC workloads. Our Australian/New Zealand-hosted sovereign infrastructure is particularly relevant to regulated and data sensitive customers in the region. Our capital-efficient deployment model is built around partnering with leading data center operators to deploy their tier 3 and tier 4 facilities. By co-locating with the improved data center infrastructure, we accelerate our deployment, reduce capital requirements, and minimize the development risks associated with greenfield builds. Finally, while we're headquartered in Australia, our customers are global. Our contract wins this year emphasize just that point. I said last quarter that we solve for 1P and that's scarcity. Using that framework, which hasn't changed, I'd argue this quarter has validated it on all four fronts. From a GPU allocation, timely access to NVIDIA's GPUs remains one of the most critical constraints in this market. Manufacturing constraints and demand from hyperscalers continue to limit the supply available to everyone, and emerging providers are facing long lead times. Our NVIDIA Cloud Partner status, and now a six-year collaboration with NVIDIA, puts us in a unique position to provide access to AI compute. Power. High-density GPU clusters need substantial, reliable power. However, ready data center sites with source power are becoming increasingly scarce due to grid constraints and long regulatory queues. Our multi-site data center relationships underpin our secure capacity, which has now grown to 212 MW. On the regulatory front, data residency and sovereignty requirements are becoming increasingly important across a number of markets. That trend supports our locally hosted model, and we extend our footprint this quarter with our first New Zealand facility. Finally, on capital and talent. Executing in this market takes significant capital and highly specialized HPC talent. Our successful capital raisings to date address the first issue, and our senior hires, as I mentioned earlier, address the second, in addition to our ongoing technical team build-out. Let me spend a bit more time on NVIDIA and our relationship. This is a first-of-its-kind partnership, six years and initial 72 MW, 40,000 GB300s, and $4.9 billion of minimum revenue, or an average of $817 million of revenue per annum at the implied base rates. This partnership does two things. It expands our ability to provide compute access to the broader AI ecosystem, namely AI natives and enterprise customers. It reinforces supply certainty at scale through the NVIDIA Cloud Partner program. The other thing we've seen it do is reaffirm to our partners globally that Sharon is a regional leader in AI compute. We are well positioned to expand our MW and GPU opportunities throughout the region with the support of all our partners and including NVIDIA. Next, I want to be clear about how this works commercially, because I think it's been misunderstood based on some of the commentary we've seen. Under the agreement, NVIDIA provides a six-year anchor commitment. That commitment helps de-risk the capital investment by providing NVIDIA guaranteed minimum revenue stream for the initial six-year period of the hardware deployed. This is viewed very favorably by debt providers who help fund the substantial capital investment in the GPUs and the associated infrastructure as they can bank the guaranteed revenues in their models. The pricing under this agreement is guaranteed as minimum only. That is, it provides a floor, not a ceiling. We expect to secure customers for a significant portion of the GPU capacity at prices above the guaranteed minimum. In those cases, we retain 100% of the anchor price and then share the incremental revenue above it. Importantly, NVIDIA will share in this incremental revenue too, which creates a new strategic alignment with NVIDIA who are incentivized to support us to both deliver a premium GPU service and to source and secure higher rate paying customers to maximize the share of the incremental revenue. Importantly, if we perform successfully under the initial 40,000 GB300 allocation, we believe there may be an opportunity to expand the program over time. On the contracting model itself, not much has changed from what I described last quarter, but it's worth reiterating. Here's an example showing what a contract might look like. In month one, the customer contracts and prepays an amount. That prepayment lets us submit the purchase orders for the specific GPUs and networking infrastructure in a way that reduces our upfront capital outlay. Over months one to four, we receive and install the hardware. The GPU and the other hardware is delivered within three to four months, and final payment lands on delivery, and installation and configuration takes two to four weeks. From month five onward, we recognize monthly revenue on reserved capacity for the full term. For a take-or-pay contract, we are paid irrespective of whether they use the compute 100% of the time or 40% of the time, which gives us real clarity on the expected revenues. At the end of the term, depending on tenure, there might be several years less useful economic life. We can recontract or sell to the on-demand market. The question we get asked the most is whether customers actually recontract. I'd like to point out a few things. Data gravity, or moving petabytes between clouds is a real switching cost, not moving compute. The 600 petabytes committed under the expanded VAST Data partnership is there for customers to grow into. Second, the platform itself. Because networking, storage, and orchestration are chained to each workload, switching means rebuilding and revalidating their stacks. Third, the time to compute, because redeploying elsewhere means a multi-month hardware and deployment lead times all over again for the customer. Finally, the upgrade path. Because as an NVIDIA Cloud Partner, we have priority access to generational upgrades of future GPU allocation. We can save the customer from joining the queue for scarce supply. Who are our partners? We see our partner ecosystem as a unique differentiator. We orchestrate a best-in-class ecosystem around a single AI cloud platform, compute, data, networking, data centers, procurement and installation, and hardware lifecycle support. We don't need to own every layer. Instead, we combine leading technologies and infrastructure partners within a single SharonAI platform. That model is designed to support faster deployment and more capital-efficient growth. To name a few, NVIDIA is our primary supplier of compute. NEXTDC is our primary supplier of data center capacity. Recently, our agreement with VAST has notably strengthened our storage strategy. We can't forget World Wide Technology, which is our exclusive APAC procurement, testing, and implementation partner. It's also worth calling out that this partnership approach has had two big impacts. One is that this results in lower operational risk, greater market validation, and credibility. Two, that our internal technical headcount does not need to scale as fast as some others as they internalize these capabilities. Now to capacity. This is a piece of news I want to make sure doesn't get lost today. Since our last capacity update, we executed an additional 80 megawatts in Australia, taking our total secured AI factory capacity to 212 megawatts. To put that trajectory in context, we had 54 megawatts at the start of the year. We have therefore increased our secured capacity roughly four times year to date while accelerating customer wins. Demand has consistently run ahead of what we can supply. Having 92 megawatts of secured available capacity heading to the back half of this year is exactly the strong position we wanted to be in. Pipeline isn't just a number, it's a commitment to deliver compute online. I'm pleased to confirm that we have successfully handed over a B300 cluster to one of our customers this month as well. We are actively focused on our next deployments of both B300 and GB300 equipment into the balance of this quarter and into early quarter four. If you look at how the contracted revenue book has built throughout the year, it's a fairly steep line. We started Q1 with Kanda, GMI, and ESDS with a $1.3 billion of total TCV. In May, we announced a global technology company with a major Asia Pac presence for a further $950 million. In June, NVIDIA for $4.9 billion. In July, the Global AI Lab for $1.32 billion. Just a few days ago, we signed another agreement with a global AI platform for $373 million. That takes us to roughly $8.8 billion of total contracted value for the 120 megawatts of contracted capacity, which leaves us with 92 megawatts available to sell. Finally, it's worth turning to our capital strategy. We've secured approximately $2.2 billion of cash since December 2025. That includes the recent $1.6 billion strategic financing closed in the second quarter. The June financing was oversubscribed and led by a cohort of top-tier institutional funds, and we remain grateful to their ongoing support. Many of you will have joined the call today, and we appreciate your continued support and suggestions as we work to deliver our GPUs to customers. I'll now close with four points on our outlook. First, demand continues to materially outpace supply, and we've secured 212 megawatts of capacity for deployment by the end of 2027, while our contracting visibility now extends out through to 2031. Second, we're well-funded for our near-term build-out following the $1.6 billion financing and other capital raises to date. Third, we expect the first material revenue to commence in the fourth quarter of 2026 as large-scale B300 and GB300 deployments come online. Fourth, we are targeting more than 64,000 GPUs deployed by mid-2027 across our footprint in Australia and New Zealand. We've made significant progress in a short period of time, but the hard work is still ahead of us as contracted revenue becomes recognized through execution, delivery, and operating at the high standards our customers expect. That's what the next 12 months is about, and I'm confident in our ability to deliver. Finally, on a personal note, I wanted to take this opportunity to thank Tim Broadfoot, our CFO, for his work in getting to Sharon where it is today. This will be Tim's last 10-Q, and we look forward to a new school joining our team and leading the next call. Tim will continue consulting the company for a period, and we wish him all the best in the future. Operator, please open the line for some Q&A. Operator: Certainly. At this time, we will be conducting a question and answer session. If you would like to ask a question, please press star one on your telephone keypad. A confirmation tone will indicate your line is in the question queue. You may press star two if you would like to remove your question from the queue. For participants using speaker equipment, it may be necessary to pick up your handset before pressing the star keys. One moment please while we poll for questions. Your first question for today is from Darren Aftahi with Lucid Capital Markets. Darren Aftahi, Analyst, Lucid Capital Markets: Hey, guys. Thanks for taking my questions and congrats on all the progress. Just two, if I may. The additional capacity, the 80 megawatts you guys added this morning in the release, is that source coming from a same partner you're working with or is it a new partner? Second question on the NVIDIA partnership, the 72 megawatts, any updates on releasing that? With that question on the release, are conversations with customers, I assume, in the ballpark of where your latest contract was north of $4 GPU hour? Thanks. James Manning, Chief Executive Officer and Co-founder, SharonAI: Thanks, Darren. James. New partner solution for the additional 80 megawatts. Fairly confident around some early megawatts potentially as early as late this year, but definitely in Q1 next year. Good to unlock some capacity there, and delivery through 2027, from that perspective. The 80 megawatts is in Australia, and there's some strategic activities we're focused on around that capacity. At this time, it's probably not appropriate to give you much more detail on it. As we've been through the whole history to date, it's been about adding consistently megawatts across partners and delivery modules to get them online and get those programs working. With respect to your second question, for the customer demand on the AICP program that we've been running for the 40,000 GPUs. I'd point you to the announcement. Just this week, we sold that capacity for record dollars per hour or price per megawatt hour, depending on both ways you think about it, for both B300 and GB300. That's the demand profile we're seeing, and the pricing mechanisms that we're having with our pricing discussions we're having with our current customers. We are seeing quite a constrained market ultimately, for access to GPUs. With those constraints, we're out at being able to incrementally increase those price per hour that we're getting. Darren Aftahi, Analyst, Lucid Capital Markets: Appreciate it. Thank you. James Manning, Chief Executive Officer and Co-founder, SharonAI: Certainly other thing is I'd say, based on the customer demand profiles we're seeing, we'd expect that strong pricing to continue throughout the year. Operator: Your next question is from Brett Knoblauch with Cantor Fitzgerald. Brett Knoblauch, Analyst, Cantor Fitzgerald: Hey, guys. Thank you for taking my questions. Related to kind of the NVIDIA contract, I know it's quite unique there. Congrats on adding the additional capacity in Australia. What is your priority, to resell the potential, the backstop capacity from NVIDIA, or to sell the remaining capacity or the remaining 92 megawatts that you have? Is there a preference for what would come first or what would NVIDIA want first? How should we think about that? James Manning, Chief Executive Officer and Co-founder, SharonAI: Great question. We often talk about our sales cycle, Brett, and that's probably the way we think about this. When I talk about the program that we've got currently going to resell the space in Melbourne, that's compute that's very well designed. We have a very clear path about how we're going to build that out, what the compute form is going to be, when it's coming online, all the RFS dates are done. We know with that knowledge, we can start giving customers RFS dates and contracts. Short term, we're very focused on the resale of that NVIDIA capacity. There's a lot of deals there for AI natives, and we're seeing a lot of demand in there. The program really put us on the map globally for a lot of other customers that we didn't historically have relationships with. We've got some great relationships, which are giving us really good insight to then the other capacity that we've just announced. Quite often, I've spoken about this on several calls, but key to us is when we get capacity online and we know we've got energy or white space, we then have to go through a design process to get the right form factor of compute to then be able to take that out to customers. We're early in the journey on the additional megawatts, but we are already having those conversations with those customers. One of the great things we're seeing out of the resale process on the AICP is we're talking to these AI natives, and they're looking at what's the rest of your capacity? What are you saying to our sales guys? What are you seeing for 2027? What are you going to have online for 2028? We're getting a lot more further out insight as to what customer demand profiles are looking like. They're all asking for it. They're like, "Can we guarantee if we get 5,000 GPUs out of the 40,000 on this, can you guarantee us some 5,000 or 10,000 in your next bit of capacity that you're going to be building out?" That's amazing from a forecasting perspective. It gives us a lot of confidence, but it also enables us to start to talk to those customers about specifically what they're looking for. Are you looking for a cluster with more storage next time? We can do a bit more planning. Having released that additional capacity publicly and now being able to talk to customers about where we see that pipeline and what's publicly available as pipeline, and then when we talk to them about what's not publicly available as pipeline. It's very helpful overall from an organizational perspective about planning overall capacity and how we're thinking about growing the business. Brett Knoblauch, Analyst, Cantor Fitzgerald: Awesome. No, very helpful. On contract duration, if I look at all the contracts you've signed, maybe absent some of the really small ones, it's been five years, except for NVIDIA at six. Is there a target duration you're looking for when you do ultimately get into the reselling the NVIDIA capacity? Is it more one, two years? Is it shorter? Is there a target duration that we're thinking of? James Manning, Chief Executive Officer and Co-founder, SharonAI: Look, we're largely being driven by customers on that component and that conversation. I think every customer, it's a bit of a balance between price and duration. Every customer would love to have the longest term they can, is the general conversation we're having with them. The demand we're seeing is in a three to five-year range. They all want to lock up as much as they can. We're trying to find a balance, book, where we take the limited resource of 40,000 GPUs and split it between a mix of three to five-year contracts. Also, depending on what we see that customer's forward demand profile or curve is, thinking about how we match those things across future demand as well. What we want to try and do is find those customers that we can expand, not just so once we've landed a customer, how do we expand the customer? Because it's a lot easier once you've got that customer on your books to expand those relationships. Brett Knoblauch, Analyst, Cantor Fitzgerald: Yeah, that makes sense. Maybe just one follow-up from me. If I do some back of the napkin math here on the storage with your partnership with VAST, it's about 100,000 GPUs, which is about similar to how much megawatts you've now secured from the 80. At what point would you look to expand that, just ahead of additional capacity ramp in the future, or are you thinking about that yet, or is that still a bit of a ways out? James Manning, Chief Executive Officer and Co-founder, SharonAI: Oh, great question. We always like to leave a few breadcrumbs in an announcement, is the way we like to think about it. I think those early indications of where we're thinking as we sign those deals, like the one we did with VAST, was a good indicator about where we were thinking the business was going and where we thought we'd be announcing our megawatts as we came into this period. We're always in discussions with VAST. They've been an amazing partner. So we are looking at how we expand that storage. The other thing I'd just say more broadly on storage is, we've seen huge customer demand and shifts in the storage dynamic. That is as to how we design a facility, how we turn on a facility, is changing those dynamics as well as we're realizing with customers, we need to be able to take more storage into a design beyond the standard three petabytes per 1,000 GPU sort of reference architecture. Customers are looking for more storage. As we think about that, the recent $1.32 billion contract was 10 petabytes of storage per 1,000 GPUs. Now that's a material upgrade from three. That means you have to think about storage capacity, that additional loads, traditionally they're air-cooled loads, attaching to our GB environment. There are mixes here that we have to start considering as we're seeing these shifts in storage. Brett Knoblauch, Analyst, Cantor Fitzgerald: Awesome. Really appreciate it. Thank you, guys. Operator: As a reminder, if you would like to ask a question, please press star one. Your next question for today is from Michael Donovan with Compass Point. Ian Generes, Analyst, Compass Point: Hey, guys, this is Ian Generes calling in for Michael Donovan. Congrats on the continued progress and signings. My first question, I just wanted to ask, your partnerships now include NVIDIA, Dell, VAST, and a number of data center operators. Can you talk about how those relationships support the growth strategy from here, whether that's validating next gen GPUs and what kind of line of sight they give you into future demand? James Manning, Chief Executive Officer and Co-founder, SharonAI: Yeah. I think the demand cycle we're seeing from our partner networks, partners are obviously referring us business. That's very helpful. When we start to talk to our supply side on demand, we're definitely hearing about supply constraints in market, where their customers are experiencing demand. What we're hearing through supplier relationships with the Dells, with the Supermicros, with the Lenovos, is an overwhelming story of large demand. When we talk to our storage customer partners like VAST and so forth, we hear about what they're doing in storage and what other NeoClouds and other people in the space are doing. Really, by using this partner network, it's all about lowering our execution risk. Everyone's got to have a relationship with an OEM, when we have a relationship like at WWT and we have those relationships with the data center operators, it just lowers our overall net operating risk. We get a lot of the customer referrals through those channels. From that perspective, it's absolutely fantastic, that partner-led model. Working within the ecosystem, you get a lot of insights as to those changes in customer profiles, and how we need to be thinking about them before they necessarily need to be implemented in our business as well, because like we've just mentioned before, 10 petabytes per 1,000 GPUs. I'm sure VAST will tell someone else they need to start thinking about more storage per 1K customers for some of their other customers. That may not necessarily be true for their customers today, but it is true for what we're experiencing. That information flow through the network is very valuable over time, I think. Ian Generes, Analyst, Compass Point: That's very helpful. Thank you. As a follow-up, as those conversations extend into the next generation, how are you observing pricing dynamics on Vera Rubins? Are customers engaging on Rubin commitments today for late 2027, 2028 deliveries? How do you see pricing trending relative to GB300s, for example? James Manning, Chief Executive Officer and Co-founder, SharonAI: Yeah. We haven't started pricing Vera Rubin, but we are seeing extraordinary amount of demand for it. We are now actively having the capacity, as I sort of said. We go through design phases once we secure capacity, and we work through those design phases to go to the Design Review Board with NVIDIA around certain specific capacity and compute workloads. That's when we then have those customer conversations for that specific compute demand in that location. That said, a lot of early demand for Vera Rubin. Those customers that we're talking to on AICP are saying, "Well, what's your late 2027 VR capacity? How are we going to get some of that? Can you promise us some of that? Can we get our hands on it?" We are working through where the Vera Rubin deployments will be for us in maybe late 2027, early 2028. Customers are already looking for us to secure and lock in those deliveries for them ultimately. We're very conscious of that in the way we're thinking about data center procurement and data center capacity procurement and design for implementation as well. Ian Generes, Analyst, Compass Point: That's great to hear. Thank you for taking my question and keep up the good work. James Manning, Chief Executive Officer and Co-founder, SharonAI: Anytime. Thank you. Operator: Your next question for today is from Jonathon Higgins with Unified Capital Partners. Jonathon Higgins, Analyst, Unified Capital Partners: Hi, guys. Thanks for taking the time today. Congratulations on the momentum. Just a couple from me today. Just firstly, just on capacity, you're sort of averaging about $1 billion in TCV being signed, or if not more every month, and the deal frequency is getting better or getting more frequent, sorry. How do you sort of strategically think about that capacity? You've raised it today to obviously 200 or above. How should we think about that probably into 2028 and what you're seeing on the demand side of things? James Manning, Chief Executive Officer and Co-founder, SharonAI: Yeah. Capacity is a great question, we're thinking about how we grow. We haven't provided guidance out through 2027, 2028 for additional megawatts than what we've done, obviously, to market. We've taken an approach where once we announce some capacity, we're very focused on designing and delivering that capacity, allocating that capacity to customer contracts. To your point, there is a bit of momentum there. We are contracting at a faster rate. We're trying to focus on those customers that can grow with us and bringing on good quality, high-quality customers that will take up that capacity. I'd expect you'll see in the forward period us announcing some customer contracts which will be attached to that capacity that we've already got locked up under AICP. You'll see some recontracting of some of that capacity from our perspective. There's a little bit of that for us to work through over the forward period. We're going to be starting to work through, again, the outlook capacity that we've got coming up. There's a few 1K clusters and some smaller clusters for us to contract and announce as well that we're very focused on from a deployment perspective. Bringing that all together, I'm not going to promise you the same momentum or the same pace, but we do have quite a lot of customer conversations that are very materially advanced for the existing AICP cluster. We are starting to have those early conversations about the larger announced capacity when that's coming online and so forth. We've got to go through, as I alluded to earlier, we've got to finalize those designs so we perform factor the delivery dates and work with our OEM partners around that delivery. We confirm up the RFS dates. We want to get customers on those GB300s. We want to deliver that in 2027. We want to make sure we're there for those customers for VR in 2028. How we mix and match all of those. Obviously, we're going to need additional capacity. We're very clear that we are ambitious about growing those things. I've always said this is a customer-led journey in many ways. We're matching our capacity to our customer demands and making sure that we're comfortable that we can finance those and get those things deployed in appropriate time frames. Jonathon Higgins, Analyst, Unified Capital Partners: Yeah, I understand, sort of stepping through it. Just another one. You sort of talk about the sovereign sort of capability of the group, the demand that's in Australia, New Zealand, and part of Asia Pacific. Can you talk about that, like give us an idea of what the demand is or the shortages are out of ANZ and Asia versus, say, like what you're seeing in the U.S.? Like, are they having a greater inability to be able to source the compute than what you're seeing in, say, the U.S. market, which is obviously experiencing shortages as well? James Manning, Chief Executive Officer and Co-founder, SharonAI: I think the entire market's constrained to start with. It doesn't matter whether we're talking to customers that are in North America or in Asia or Australia, the entire market is constrained. When you start talking to any of the customer conversations that we're having, it's for hundreds of thousands of GB300s just on this AICP program. We've got 40,000. We've got a multiple of the cluster that we have in demand. That's why these conversations and releasing some additional capacity and announcing that is very useful because what we can start to talk to is, "Hey, yeah, we can give you 5,000 or a number of the 40,000 GPUs, and we can work with you on this additional capacity for 2027. We can work with you for this in 2028." Those conversations are giving customers a pipeline, making sure they've got access to compute, and democratizing that access and making sure we've got a lot of customers on it because we want to broaden the base ultimately of customers on the compute. We're not just focused on those, but also the smaller 1K clusters, those customer contracts, because as you land those and expand them out, finding lots of customers on 1K or half K clusters and the ability to grow out that is very important for us as well. Look, I think, the only other thing I'd say is the demand from both U.S. and Asia is equally strong. We're very focused on having that balanced customer book. We are very much prioritizing those customers that we think have got strong growth profiles, so we can expand those relationships over multi-year terms. Jonathon Higgins, Analyst, Unified Capital Partners: Excellent. I might just take one more if that's okay. Just more on the financial side of the business. I mean, the financing, as you say in your release, you're talking about you've got a lot more dry powder than you had at the start of the year. With the NVIDIA deal and the movement that we've seen in sort of financing and the like, can you talk about how you're sort of seeing the IRRs in the business? You don't need to necessarily call up a number, how are you seeing them and where the cost of finance has moved for you guys and the ability to access that over the last sort of several months from the last quarter? James Manning, Chief Executive Officer and Co-founder, SharonAI: I think what we did in the last quarter had been phenomenal, and we're very thankful for our ongoing shareholder support, with the $1.6 billion raise, and Oaktree's earlier one for the convertible note. They were all instrumental steps for us to grow this business. I think, we have been very lucky that we've had that level of support from equity markets and the trust in us delivering that story has been given to us. On the debt markets piece, we're very advanced on debt facilities across the business. We'd expect to be coming to market and exploring and explaining some of those solutions that we've got near term. I won't bid against myself, Jono, and tell everyone where we are on pricing and so forth on this call, we are seeing really strong, and you can see that at the top line. You can see that in the price per megawatt or price per GPU hour. We're seeing very strong pricing on the compute side that's reflective to the strong customer demand, and that's reflecting in very strong IRRs, which is supportive of a debt environment ultimately. We've just recently concluded our full technical diligence for lenders and we got through all of that in very short order and in very good order. We're very comfortable about delivering now on that program. Jonathon Higgins, Analyst, Unified Capital Partners: Thanks, guys. Operator: Your next question is from Fedor Shabalin with B. Riley Securities. Fedor Shabalin, Analyst, B. Riley Securities: Thank you very much, operator, and good time of day, everyone. My question is kind of a follow-up of the first two questions that have been asked. On the NVIDIA partnership, and the GB300 capacity under the management, what kind of customers are you targeting to fill that capacity, and can you frame how much of it you expect to be contracted, like take-or-pay versus sold on demand? Is there a preference here? Related to that, does the mix skew differently by customer type, like hyperscaler versus enterprise, and how does that affect the GPU hour rates you're underwriting? If you can comment on what the deployment schedule looks like for these 40,000 GPUs, that would be super helpful. Thank you very much. James Manning, Chief Executive Officer and Co-founder, SharonAI: Well, thanks for the question. No, always happy to give you the breakdown. For the AI natives that we're seeing on the AICP program, I think you can expect the vast majority of them will be the more take-or-pay. Who are they? They're various model builders, inference providers, and we'll be deploying that over the first half of 2027. That compute will be online. We are seeing there'll be a little bit of spot, but the vast majority will be, as I alluded to earlier, those three to five-year terms on a take-or-pay basis. Very focused on those customers that we can grow with. I think the great thing for us is they've been a really good way for us to get that early conversation about what they need elsewhere in our capacity pipeline for 2027. We're seeing those AI natives all wanting to lock up as much compute as possible for as long as possible. The overwhelming comment is, "Can we have more? And can we have term?" We're trying to balance that against what we can see is clearly a constrained market, and matching all those components so we can continue to grow and execute, but also know that it's fully deployed. We don't have that huge customer churn across the platform. Because while you might look at doing some of those customers on spot and we'll have a portion of the market in spot, it's a lot easier to have those customer relationships. The egress that we talk about for storage, when you're at 4,000 or 5,000 GPUs, it is a bit of work, egressing a customer on and off on a network at that scale. It makes a lot of sense to keep them locked in for a bit more term versus a short-term spot for that sort of stuff. If it's the inference stuff, we're going to see that inference can come and go a lot faster. A lot of the AI natives are looking for a longer-term solution with a bit more storage deployment. We're looking to ensure that we've got deployment over, half one 2027 with full billing on our latest in Q3 across that cluster. Fedor Shabalin, Analyst, B. Riley Securities: That's helpful. My follow-up is, you've guided to revenue ramping materially from third quarter this year through 2027. My question is, what's the biggest swing factor that could push that ramp, like into four Q? For example, if DS, if I recall correctly, service start date is September 16th. Just want to figure out what could potentially happen, or you can just reassure us that this is a starting date. James Manning, Chief Executive Officer and Co-founder, SharonAI: Great question. We've got RFS dates from a data center perspective. We obviously rely on our data center partners to make sure they do their delivery. We are carefully tracking and monitoring our supply deliveries, so those deliveries are Supermicro, for instance. If you say what are the risk factors, it's hardware delivery and data center readiness. They're the two ones, and their third-party supplier relationships. We'll have a very solid Q4. We believe that it's an end of Q3 turning on, so Q4 would be where you materially see that revenue ramping. As I sort of alluded to on the call, we've delivered the B300 to that customer. We're mid-quarter now, so you'll see a full month and a bit of billing in Q3 for the B300 as well. That's all starting to ramp. You'll see as we get the hardware deployed and we were out looking at the site last week, physically the data centers look like they're in good order. We're getting through those processes and deployment. We've just got to get their compute online and get it delivered and get it online, and then hand it over to the customer. I think you'll see a solid Q4 result on those numbers. Fedor Shabalin, Analyst, B. Riley Securities: Thank you very much for that. I promise this is the last one. You raised the mid 2027 GPU target and secured capacity multiple times since June. Just a question, is that upward revision being driven by signed contracts pulling capacity forward or by anticipated demand ahead of signed paper? What conditions make you confident to raise a contracted megawatt target, if it will happen? Thank you. James Manning, Chief Executive Officer and Co-founder, SharonAI: I think, the customer demand's definitely there. The data center delivery piece, we're very confident of looking at the, from our perspective, how we look at those things being built and delivered. We can see that the data centers can be built and delivered in that timeframe. The 64,000 GPUs that we're talking about is contracted demand by mid-2027. We're very comfortable about that. We don't have an issue with that. It's really then how we think about, what else are we delivering in 2027? We upgraded the 80 megawatts today, and we'll look to update additional megawatts in the future. As you know, we've been slowly building this story out. It doesn't feel so slow when you're inside the business, I can assure you. We're constantly adding people and team to make sure that we can deliver. That's really important. We moved from 132 megawatts to 212 megawatts by the end of 2027 today. I just point back to our history from where we came through from the beginning of the year, I know there's a slide in the deck about how we've upgraded megawatts. I'm not going to promise you I'm going to upgrade at that rate all the way through for my 2027 turn-on dates, we are very focused on how we expand our 2027 opportunity. We've 4x-ed capacity in sort of eight months across the business. I don't know if I can promise you a 4x capacity in the next eight months, we're going to work really hard to add capacity. We've got to do it in a measured way. We have to make sure that the customer are signing contracts, we have to make sure the financing for each of these sort of deals are in place before we just go and sign up. We're not going to go YOLO capacity, without having the right dynamics in place, both around the customer and the financing economics are in place to do this. Fedor Shabalin, Analyst, B. Riley Securities: Thank you for all the details, continue and best of luck. James Manning, Chief Executive Officer and Co-founder, SharonAI: Great. Thank you very much. I think that concludes our call today. I just wanted to say thank you for all our shareholders, and everyone that was on the call and listened to us. Importantly, I wanted to say thank you to our team. They continue to execute. We got that B300 on this recently, and we're moving to deliver the next batch of compute. It's really important our team hears my thanks for delivery, because 2026 and 2027 will be the year about delivery for us. I just want to reiterate from a closing position, we're both well-positioned financially and operationally to continue to grow the APAC story, both Australia, New Zealand, Asia Pac markets across the balance of the year and beyond. We just wanted to thank everyone for their support and time again today. Thank you. Operator: This concludes today's conference, and you may disconnect your lines at this time. Thank you for your participation. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Sharon AI stock surges on $373m cloud computing contract By Investing.com

Investing.com -- Sharon AI Holdings Inc. (NASDAQ:SHAZ) shares rose 5% in Tuesday premarket trading after the company announced a five-year cloud computing service agreement with a global artificial intelligence platform valued at $373 million. The Australian Neocloud provider said the agreement will see it deploy cloud computing solutions across its AI infrastructure in Australia, with revenue expected to commence during the first quarter of 2027. Following the deal, Sharon AI's total AI Factory capacity remains at 132 megawatts but has now contracted 120MW to end customers. The company will upgrade from 62,000 to 64,000 NVIDIA GPUs across its AI Factory platform by mid-2027. The initial deployment under the agreement is expected to utilize 2,048 NVIDIA Blackwell Ultra B300 GPUs, with additional deployments possible over the contract term based on customer requirements. James Manning, Co-founder and Chief Executive Officer of Sharon AI, commented: "This agreement represents an important milestone in the continued expansion of Sharon AI's customer base and contracted AI infrastructure capacity. As organizations increasingly seek access to sovereign, high-performance AI compute, we remain focused on delivering scalable infrastructure that supports the evolving needs of AI platforms, enterprises and governments." The company said the agreement supports Australia's goal to become a leading destination for AI infrastructure investment in the Asia-Pacific region by deploying advanced AI compute capacity within the country. Sharon AI stated the deal contributes to investment in Australian digital infrastructure and strengthens the country's position as a regional AI hub. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.