SharonAI Holdings Inc. (SHAZ)

Key figures

The last twelve months reported, with the latest price and balance sheet.

Market value

$4.8B

Cash

$1.9B

Debt

$1.0B

Debt to equity

0.89

Financial statements

Revenue, profit and cash flow by fiscal year, each year linked to its annual report.

By quarter

Revenue by segment

As the company reports it in the segment note of its annual report.

By product, FY2025

Company events

The newest 8-K filings of 49 held.

Every filing

The newest filings with the SEC of 100 held.

Insider trades

Form 4 trades by officers, directors and 10% owners, last 12 months.

Large holders

Schedule 13D and 13G filings by holders of more than 5% of the voting shares.

Short interest

Shares sold short and not yet bought back, on each FINRA settlement date.

Funds that hold it

From each fund's latest Form 13F.

119 funds held it at 30 Jun 2026: 105 added and 8 trimmed in the quarter. The largest:

Peers

Companies in the same industry.

• Automatic Data Processing Inc. (ADP): revenue $21.9B, market value $113.5B
• Workday, Inc. (WDAY): revenue $10.2B, market value $50.3B
• Reddit, Inc. (RDDT): revenue $2.8B, market value $27.2B
• Verisk Analytics, Inc. (VRSK): revenue $3.1B, market value $24.7B
• Toast, Inc. (TOST): revenue $6.8B, market value $18.9B
• RingCentral, Inc. (RNG): revenue $2.6B, market value $7.6B
• Applied Digital Corp. (APLD): revenue –, market value $6.1B
• Pegasystems Inc. (PEGA): revenue $1.7B, market value $5.8B
• Bilibili Inc. (BILI): revenue $4.2B, market value $5.4B
• D-Wave Quantum Inc. (QBTS): revenue $12.4M, market value $4.4B

What the company does

SharonAI Holdings Inc. describes itself as an Australian neocloud operator built for artificial intelligence (AI) and high-performance computing (HPC). It gives enterprise, government and research organizations access to GPU hardware without needing to run their own physical infrastructure. Its subsidiary SharonAI, Inc. was formed in Delaware on 15 February 2024, and the Class A Ordinary Common Stock began trading on the OTC Markets as SHAZ on 18 December 2025.

What it sells

The company offers three solutions: GPU-as-a-Service, AI Studio and Cloud Storage Solutions. GPU-as-a-Service gives on-demand access to GPU compute for model training, inference, research computing and visual computing such as 3D rendering and VFX. The current GPU offering includes NVIDIA L40s, A40, H100 NVL, H200, B200 and B300 processors, plus AMD MI300X capabilities. AI Studio is a proprietary platform-as-a-service that combines cloud infrastructure with operational support from the company's engineers. Storage covers S3-compatible object storage, high-performance SSD storage, and archive and backup. In February 2025 the company launched the SharonAI Cloud, an orchestration and automation platform that lets customers provision GPU compute themselves.

The deployed fleet is 43 NVIDIA A40, 192 NVIDIA L40, 160 NVIDIA H100 and 16 NVIDIA H200 GPUs. The company has also bought 1,000 NVIDIA B200 and 1,024 NVIDIA B300 GPUs, and says it expects delivery in the first half of 2026.

How it earns money

Customers pay fees for access to the platform. Pricing depends on the hardware allocated, including GPUs, CPU capacity, storage and interconnect bandwidth, and on the consumption model chosen. The company offers usage-based on-demand services and term-based take-or-pay contracts. Revenue has historically come largely from on-demand workloads, including customers reached through marketplace aggregators. The company says it has shifted its main contract framework toward term offtake agreements on a take-or-pay basis.

In its description of a typical term contract, it targets a customer prepayment of 10% to 20% of contract value. Hardware is delivered within approximately two to three months of signing. Monthly billing then runs for the contract term, for example 36 to 60 months.

Who buys from it

In January 2026 the company signed its first major customer contract with Canva and GMI Cloud US Inc. It finds customers through NVIDIA's consumption desk referrals, Cisco's enterprise sales team, Lenovo, direct sales, and research and education partnerships.

Where its hardware sits

The company does not build its own data centers. It places equipment in the facilities of partners under long-term arrangements. NEXTDC is its largest, non-exclusive co-location provider, and the company has secured up to 54MW of capacity there. That includes 40MW at the M2 facility in Melbourne, 2MW at M3 in Melbourne, 10.75MW at S6 in Sydney and 2MW at S3. The company also uses DigiCo and GreenSquareDC facilities. Its Supercluster is described as a 1,016-GPU deployment built to NVIDIA reference architecture and co-located at NEXTDC's M3 data center in Melbourne. A 1,024-unit NVIDIA B300 cluster is planned for NEXTDC's S3 data center. The company calls Australian data residency its sovereign proposition.

In January 2026 the company completed the sale of its 50% interest in Texas Critical Data Center LLC, a joint venture to develop a data center site in the Permian Basin. It had announced a move to a pure-play neocloud operator in December 2025.

Partners and suppliers

NVIDIA makes the company's GPUs. The company has been an NVIDIA Cloud Partner since December 2024 and is one of three operating in Australia. Cisco supplies networking and has a collaboration to reach enterprise and government customers. Lenovo has supplied compute and storage equipment since 2021 through the subsidiary Distributed Storage Solutions Limited, and offers a financing facility under its TruScale program. WWT is a delivery partner, VAST supplies its AI Operating System, and Megaport gives customers private links from over 1,000 data centers across 26 countries.

Competition and dependencies

The filing lists competitors including CoreWeave, Nebius Group N.V., IREN Limited, Applied Digital Corporation, Amazon.com Inc., Alphabet Inc. and Microsoft Corp. It states that it has no long-term supply agreements with NVIDIA guaranteeing pricing, volume or delivery. It also relies on NEXTDC to host substantially all of its GPU infrastructure. The filing reports 25 employees, board members, advisors and contractors in Australia and the United States as of 18 March 2026, and a table of full-time personnel showing 30.

*From SharonAI's annual report on Form 10-K for the year ended 31 December 2025. [The filing](https://www.sec.gov/Archives/edgar/data/2068385/000149315226014068/form10-k.htm)*

From the company's 10-K.