At a glance
Sharon AI signed a US$373 million five-year cloud contract on 4 August, lifting contracted capacity to 120MW of its 132MW total.
The buyer is described only as a global AI platform, making this the third contract since May in which Sharon AI has not named the customer.
Sharon AI says total capacity remains at 132MW, and lifts its mid-2027 GPU target to 64,000 chips.
Revenue from this contract and from July's larger New Zealand agreement is not expected to start until 2027.
Twelve megawatts are still uncontracted, and Sharon AI reports second-quarter results two days after the announcement.
Sharon AI has 120MW of its 132MW capacity under contract
Sharon AI has 120MW of the 132MW it counts as total AI factory capacity under contract, after a US$373 million five-year cloud service agreement announced on 4 August 2026. That leaves 12MW uncontracted. The 4 August release says total AI factory capacity "remains at 132 megawatts (MW)", while the contracted share has risen twice since 12 June, from 102MW to 116MW to 120MW.
The buyer is described in the announcement only as a global AI platform. The initial deployment is expected to use 2,048 NVIDIA Blackwell Ultra B300 GPUs, with revenue expected to commence in the first quarter of 2027. Sharon AI targets 64,000 NVIDIA GPUs across its platform by mid-2027, and the 2,048 chips are about 3% of that figure. The company said the deployment supports Australia's sovereign AI capability and Australia's standing as a destination for AI infrastructure investment in the Asia-Pacific.
Disclosure | Contracted capacity | Mid-2027 GPU target |
|---|---|---|
12 June 2026 | 102MW | more than 55,000 |
16 July 2026 | 116MW | more than 62,000 |
4 August 2026 | 120MW | 64,000 |
Source: Sharon AI announcements of 12 June, 16 July and 4 August 2026. Total AI factory capacity is 132MW in all three.
The 132MW total has held through four releases
Sharon AI last raised that total on 12 June, when its announcement of the six-year NVIDIA collaboration said capacity "has expanded to 132MW" without stating what it had expanded from. It has held through three further releases, its wording moving from "has expanded to" in June to "is" in July to "remains at" this week, while the mid-2027 GPU target moved twice over the same eight weeks from more than 55,000 to 64,000.
Sharon AI has never published how much of the 132MW is running. It is a neocloud that leases capacity from other operators, under a November 2025 agreement with NEXTDC for 50MW across NEXTDC's Australian and Asia-Pacific network. No site has been named for the 72MW that it and NVIDIA are working to enable in Australia, or for the New Zealand contract.
US$373m is the smallest of three cloud contracts announced since May
Sharon AI has announced three cloud service contracts since the middle of May and named the counterparty in none of them. May's agreement of approximately US$950 million went to a global technology company with a major Asia-Pacific presence, to be served across multiple NEXTDC data centres in Australia. July's US$1.32 billion agreement went to a global AI lab and is to be served from New Zealand, the largest AI cloud contract disclosed for that country. August's goes to a global AI platform and is to be deployed in Australia. The three announcements carry about US$2.6 billion of five-year contract value between them and name no buyer.
None of the three starts producing revenue before the second half of 2026. May's revenue is expected to commence in the third and fourth quarters of 2026, July's in the first and second quarters of 2027, and August's in the first quarter of 2027. James Manning, co-founder and chief executive, told the first-quarter earnings call on 15 May 2026 that Sharon AI expected an annualised revenue rate of at least US$470 million by the end of 2026, against more than US$2.2 billion of total contracted value at the time of the call.
What to watch
Second-quarter results. Sharon AI reports after the US market closes on 6 August 2026, two days after the contract was announced. They will be the first accounts since contracted capacity reached 120MW, and the last covering a period before revenue from the May agreement is expected to begin.
The 132MW total. A further contract of more than 12MW needs capacity beyond 132MW. The next announcement will show whether the total has moved.
The ASX listing. Sharon AI approved seeking a dual listing on the ASX through CHESS Depositary Interests in April 2026, and said it intends an Australian public offering alongside a private offering to institutional investors. The reported timing has moved more than once.
The New Zealand facility. The site serving the US$1.32 billion New Zealand deal signed in July has not been named, and neither has its operator or its power arrangements. Listing documents would be the first place they appear.