NEXTDC's A$2.2 Billion Capital Plan and Sharon AI: What the Raise Means for Australia's Neocloud Tenant Base

At a Glance

• Sharon AI's (Nasdaq: SHAZ) Australian operations are located inside NEXTDC (ASX: NXT) certified facilities, including a 1,000 GPU NVIDIA B200 supercluster at M3 Melbourne and a 50MW capacity expansion agreement signed across NEXTDC's Australian and APAC network in November 2025.

• NEXTDC's A$2.2 billion capital programme, assembled through April 2026, supports the delivery schedule for the capacity Sharon AI has contracted, with a 544MW pro forma Forward Order Book reported as at 31 March 2026.

• Sharon AI's sovereign customer deployments, including Sovereign Australia AI and the Cisco and NVIDIA secure AI factory, are located inside NEXTDC facilities.

• NEXTDC has been reported as a strategic investor in Sharon AI's A$487 million pre-IPO round alongside NVIDIA, Cisco and Lenovo, though not independently confirmed by NEXTDC in an ASX release.

Sharon AI (Nasdaq: SHAZ) is one of the neocloud providers operating in Australia, supplying GPU-as-a-service capacity to enterprise and sovereign customers, and has an ASX listing targeted for the June quarter of 2026. Its Australian operations are located inside NEXTDC (ASX: NXT) certified facilities, including the sovereign GPU cluster at NEXTDC M3 Melbourne and a 50MW capacity expansion agreement signed across NEXTDC's Australian and APAC network in November 2025.

That tenancy relationship is the reason last week's NEXTDC A$2.2 billion capital programme has read across to Sharon AI. With NEXTDC's funding now in place, the schedule for delivery of the rooms Sharon AI has contracted is supported by a fully funded landlord.

Points of connection between NEXTDC and Sharon AI

NEXTDC reported a 544MW pro forma Forward Order Book as at 31 March 2026, with 250MW of new contracted utilisation in the March quarter and expected contracted EBITDA above A$1.0 billion. The certified, liquid cooled, high density capacity within that order book is the type of capacity Sharon AI uses for its NVIDIA B200 and B300 deployments.

M3 Melbourne deployment. Sharon AI announced the deployment of a 1,000 GPU NVIDIA B200 supercluster at NEXTDC M3 Melbourne, assembled with Lenovo, in January 2026. The 50MW expansion agreement signed in November 2025 applies across NEXTDC's Australian and APAC network.

ESDS agreement. Sharon AI's five year US$1.25 billion AI cloud infrastructure agreement with ESDS, announced on 31 March 2026, relies in part on Australian capacity being delivered on schedule.

Sovereign customer base. Sharon AI is a named partner in Sovereign Australia AI's GPU cluster and in the Cisco and NVIDIA sovereign secure AI factory. Both deployments are located inside NEXTDC facilities.

Reported shareholder alignment

Coverage of Sharon AI's A$487 million pre-IPO round has named NEXTDC among the strategic investors alongside NVIDIA, Cisco and Lenovo. NEXTDC has not independently confirmed the size or form of the stake in an ASX release.

The 487m Oaktree piece covers Sharon AI's capital raise and listing path. The M3 deep dive covers the operational setup at NEXTDC M3.

Readers can see the NEXTDC footprint Sharon AI currently uses, and adjacent Sydney sites such as S4 Horsley Park, on the CertifiedStrategic infrastructure maps.

Why this is significant

NEXTDC's A$2.2bn capital programme supports the delivery schedule for the capacity Sharon AI has contracted in Australia.

The 544MW pro forma Forward Order Book includes the liquid cooled, high density capacity type that Sharon AI's NVIDIA B200 and B300 deployments use.

Sharon AI's sovereign customer deployments, including Sovereign Australia AI and the Cisco and NVIDIA AI factory, are located inside NEXTDC facilities.

NEXTDC has been reported as a strategic investor in Sharon AI's A$487 million round, though not independently confirmed by NEXTDC.

The timing aligns with Sharon AI's June quarter 2026 ASX listing target.