🇦🇺Australian neocloud Sharon AI (Nasdaq: SHAZ) entered a US$356 million GPU-backed senior-secured facility at 9.95% fixed interest, excluding fees.

Sharon AI’s SEC-filed announcement describes its inaugural US$356 million committed, senior-secured, GPU-backed special-purpose vehicle (SPV) debt facility. The fixed interest rate is 9.95%, excluding fees; the disclosed facility size should not be treated as confirmation that the entire amount has been drawn.

The facility is secured against GPUs and associated cash flows, with proceeds designated for compute infrastructure dedicated to customer contracts. Investors include Goldman Sachs and selected large private-credit funds, while Jarden Australia acted as sole financial adviser and arranger.

Management describes this as the first in an expected series of GPU financings supporting a scheduled deployment of over 68,000 NVIDIA GPUs by mid-2027. It also states that, with the transaction’s closing, Sharon AI will have secured over US$2.6 billion of institutional debt and equity capital over the preceding 10 months, and reports customer offtake exceeding US$8.8 billion in total contract value (TCV); these are company disclosures, not independently verified operating results.

The agreement excerpt defines services to include infrastructure-as-a-service, platform-as-a-service, and GPU-as-a-Service (GPUaaS), and provides for shareholder debt subordination. It references straight-line server depreciation but redacts the depreciation period; the supplied excerpts do not establish draw conditions, maturity, conversion terms, or dilution, while management’s gigawatt-scale ambition across Australia, New Zealand, and the broader Asia-Pacific remains an ambition rather than deployed capacity.