SharonAI Holdings announced the closing of its previously announced oversubscribed $1.6 billion private placement financing. The company plans to use the proceeds to support its six-year strategic compute collaboration with NVIDIA and broader expansion initiatives.
The transaction included a private placement of approximately $900 million, split between 6,719,896 shares of Sharon AI’s Class A ordinary common stock and pre-funded warrants to purchase 6,374,823 shares of Class A ordinary common stock.
The financing also included a private placement of $700 million aggregate principal amount of 4.75% Convertible Senior Notes due 2032 to qualified institutional buyers under Rule 144A.
The transaction was anchored by Situational Awareness L.P. and funds managed by Oaktree Capital Management, along with new and existing institutional and strategic investors.
Sharon AI said the proceeds will support its previously announced six-year strategic compute collaboration with NVIDIA. As part of that collaboration, the company intends to deploy one of Australia’s largest AI Factories, including up to 40,000 Grace Blackwell GB300 GPUs.
The financing is expected to help Sharon AI expand its AI cloud platform and compute infrastructure as demand grows for AI factories, sovereign AI solutions, and accelerated computing capacity.
Sharon AI is an Australian Neocloud and high-performance computing company focused on artificial intelligence and cloud GPU/CPU compute infrastructure. The company’s AI Cloud platform and compute infrastructure are designed to accelerate the buildout of AI factories and sovereign AI solutions.
Support: Goldman Sachs & Co. served as lead placement agent for the transaction. Lucid Capital Markets also served as placement agent. Macquarie Capital served as financial advisor. Sheppard Mullin Richter & Hampton served as legal counsel to Sharon AI in connection with the private placement.
