SharonAI Lands $356 Million Financing Deal Amid Market Volatility
SharonAI Holdings Inc., trading on the NASDAQ under ticker SHAZ, saw its shares decline by more than 5% on Thursday.
The stock's drop is attributed to profit-taking and ongoing market volatility, with previous declines on Sept. 23, 25, and 28 followed by a modest recovery from Sept. 29-30.
Despite the market pressure, SharonAI secured a significant financing deal earlier in the day, obtaining a $356 million committed senior secured GPU-backed SPV debt facility at a fixed rate of 9.95%, excluding fees.
The funding is backed by GPUs and related cash flows from Australian, Asian, and global investors, including Goldman Sachs and select private credit funds.
The deal is expected to support the deployment of over 68,000 Nvidia GPUs by mid-2027, with a total contract value exceeding $8.8 billion.