Sharon AI Closes $356M GPU-Backed Debt Facility at 9.95%

SharonAI Holdings Inc. (NASDAQ: SHAZ) entered a committed US$356 million senior secured, GPU-backed SPV debt facility at a fixed 9.95% rate (excluding fees), according to the company’s October 1, 2026 PR Newswire release. Proceeds support compute infrastructure tied to customer contracts.

The numbers on the wire

• US$356 million committed senior secured GPU-backed SPV facility.
• Fixed coupon 9.95%, excluding fees.
• Lenders include Goldman Sachs and select large private credit funds (company-named; full syndicate not listed in the release).
• First in an expected series of GPU financings toward > 68,000 NVIDIA GPUs deployed by mid-2027 (company schedule).
• With this close, Sharon AI says it has secured > US$2.6 billion of institutional debt and equity over the past 10 months.
• CEO James Manning cites customer offtake TCV > US$8.8 billion.
• Jarden Australia acted as sole financial advisor and arranger.

Structure and use of proceeds

The facility is secured against the GPUs and associated cash flows under a contract-backed SPV structure. Sharon AI, an Australian Neocloud, says the capital funds deployments across Australia, New Zealand and broader Asia-Pacific as it pursues gigawatt-scale AI compute. The release positions the deal as scalable debt against contracted offtake rather than a pure equity raise.

Related SEC coverage of the same announcement (Form 8-K exhibit path reported by filings aggregators) describes Facilities A and B totaling up to US$356 million at subsidiaries SAI AU No. 1 and SAI AU No. 3 for servers, GPUs, networking and storage at contracted data centers — consistent with the PR numbers.

What the release leaves out

No maturity date, amortization schedule, LTV covenants, draw timeline, named offtakers, or per-site megawatt figures in the PR. The 68,000-GPU mid-2027 figure and $8.8B TCV are company-reported. Investor page: sharonai.com/investors.

Why it matters

GPU debt facilities are becoming the standard way Neoclouds convert contracted offtake into racks. Sharon’s 9.95% fixed coupon sits well above Lambda’s recent investment-grade 6.78% print — a useful wire-desk contrast on cost of capital for sovereign/APAC GPU buildouts versus U.S. investment-grade offtake structures.