Sharon AI secures US$356m GPU-backed debt facility

Sharon AI Holdings has entered into a US$356 million (A$514 million) committed senior secured, GPU-backed debt facility, adding a new funding lever as the Australian neocloud scales its AI infrastructure platform across the Asia-Pacific.

The facility is structured as a special purpose vehicle (SPV), priced at a fixed rate of 9.95% (excluding fees) and secured against the company's GPUs and associated cash flows. Investors include Goldman Sachs and a number of large private credit funds, according to Sharon AI.

The company said the facility is the first in an expected series of GPU financings and is intended to support the scheduled deployment of more than 68,000 NVIDIA GPUs by mid-2027.

Sharon AI said the closing brings its total institutional debt and equity capital raised over the past 10 months to more than US$2.6 billion, including US$1.6 billion (A$2.3 billion) in private placement funding secured in June.

The company also said its contracted customer pipeline - spanning hyperscale operators, AI-native firms, government, enterprise and research organisations - carries a total contract value (TCV) of more than US$8.8 billion.

"As demand for sovereign and secure, trusted AI infrastructure continues to outpace available supply globally, and particularly across Australia, New Zealand and the broader Asia-Pacific, access to scalable debt capital is an important enabler of our growth," said James Manning, co-founder and chief executive officer of Sharon AI.

"With a strong balance sheet, growing contracted capacity pipeline and a disciplined approach to capital allocation, we believe we are well positioned to continue scaling our AI platform across the Asia-Pacific region.”

Last month, GreenSquare signed a long-term contract with Sharon AI as the first customer at its SYD1 data centre campus. 

NVIDIA also announced a broad expansion of AI infrastructure capacity in Australia in September, partnering with eight local data centre and cloud providers, including Sharon AI.

In July, Sharon AI inked a five-year, US$1.32 billion (A$1.88 billion) cloud computing service agreement with an unnamed global artificial intelligence lab.