SharonAI secures 212 MW GPU capacity, $8.8B contract backlog

SharonAI Holdings announced in its Q2 earnings call that it has secured 212 megawatts of total AI factory capacity, a substantial increase from its prior guidance of 132 MW. Of this total, 120 MW is contracted under multiyear take-or-pay agreements, while 92 MW remains available to sell. The company is planning to deploy more than 64,000 NVIDIA GPUs by mid-2027 across Australia and New Zealand as part of its sovereign infrastructure strategy.

Chief Executive Officer and co-founder James Manning highlighted that the company has executed approximately $8.8 billion in total contract value year to date. Three months earlier, in late Q1, SharonAI had 100 MW of secured capacity and $2.2 billion in contract value, meaning secured capacity has more than doubled while the contracted book has increased roughly fourfold. The company announced several major customer agreements: a six-year strategic compute collaboration with NVIDIA valued at $4.9 billion minimum revenue involving an initial 72 MW deployment and 40,000 GB300 GPUs; a five-year take-or-pay agreement with a global AI lab valued at $1.32 billion; a five-year take-or-pay agreement with a global technology company valued at $950 million; and a five-year take-or-pay agreement with a global AI platform valued at $373 million. Manning noted that the most recent global AI platform agreement involves a B300 deployment priced at more than $4 per GPU hour, which he characterized as a record rate for the company. He also emphasized that demand for GPU capacity remains constrained, allowing SharonAI to pursue higher pricing.

The additional 80 MW of capacity announced comes from a new partner and is located in Australia, with some initial megawatts potentially available as early as late 2026, and further delivery expected through 2027. SharonAI began 2026 with 54 MW of secured capacity and has now established its first New Zealand facility to support sovereign infrastructure requirements for customers with data residency and regulatory needs. The company is currently working on B300 and GB300 cluster deployments and expects first material revenue to begin in the fourth quarter of 2026 as large-scale deployments come online.

On the capital front, SharonAI has raised approximately $2.2 billion since December 2025, including a $1.6 billion oversubscribed strategic financing round completed in June and a $350 million convertible note completed in April. The company is also advanced in discussions concerning debt facilities. SharonAI's capital strategy relies on partnerships with data-center operators rather than developing greenfield facilities, with NVIDIA as its primary compute supplier, NEXTDC as its primary data-center capacity provider, VAST Data as a storage partner (with an expanded commitment to 600 petabytes to support as many as 100,000 GPUs), and World Wide Technology as its exclusive APAC procurement, testing and implementation partner. Lastly, SharonAI announced leadership changes, including Anuj Goel, formerly of Macquarie Group, as chief financial officer; Melissa Anastasiou as chief legal officer; and Andrew Penn as non-executive chairman.