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Sharon AI readies ASX float with 12.5 billion contracts
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Sharon AI readies ASX float with 12.5 billion contracts

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  • Sharon AI has prepared its prospectus for an Australian stock exchange listing following a 60% expansion in compute capacity.
  • Major shareholder Situational Awareness retained its 15% stake in the company despite experiencing widespread margin calls.
  • The business aims to deploy 212 megawatts of capacity over the next 18 months to meet growing demand for artificial intelligence infrastructure.

Neocloud provider Sharon AI (NASDAQ:SHAZ) has prepared its ASX public float prospectus after securing US$8.8 billion in customer contracts.

The announcement follows forced stock liquidations at anchor investor Situational Awareness, which retained its 15% stake in the company.

"The prospectus is drafted; we just need to find a short break when we can file the prospectus in a final format without any big changes occurring," said Sharon AI CEO James Manning.

The company stated that third-quarter expansion added 80 megawatts of capacity, bringing its total planned deployment to 212 megawatts.

Following the announcement, the Sharon AI share price was unchanged at $52.15.

The business previously completed a US$1.6 billion private placement in June that included a US$4.9 billion six-year deal with Nvidia.

Brokerage Unified Capital Partners projected the company could generate US$3.5 billion in annual recurring revenue by 2027.

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