Core Viewpoint - Sharon AI Holdings Inc. has reported strong financial results for fiscal year 2025, establishing a foundation for accelerated growth in 2026 and beyond, driven by increasing customer demand across various sectors [1][2][4]. Financial Performance - The fiscal 2025 results reflect full-year operations after becoming a certified NVIDIA Cloud Partner in December 2024, indicating a strategic move to enhance growth potential [2]. - The company raised approximately US$100 million through a Convertible Note in December 2025, strengthening its balance sheet [3]. - Sharon AI's IPO on Nasdaq in February 2026 raised US$125 million, marking a significant milestone for the company [3]. Strategic Developments - The company expanded its data center capacity from 50MWs to 70MWs, representing a ~40% increase, to meet growing customer demand for AI and high-performance computing (HPC) [5]. - A strategic partnership with Cisco was established to launch Australia's first secure AI factory, enhancing the company's capabilities in AI infrastructure [3][17]. - The completion of the sale of a 50% holding in Texas Critical Data Centers for US$70 million is expected to accelerate growth in Sharon AI's core Australian GPU Cloud business [3]. Customer and Market Engagement - Customer demand across AI native, research, government enterprise, and hyperscale cohorts has continued to accelerate into early 2026, indicating a robust market environment [2][4]. - A key customer win includes Canva, which highlights the company's growing client base in the AI sector [3]. Future Outlook - 2026 is anticipated to be a defining year for Sharon AI as it executes its growth strategy, focusing on high-performance compute solutions for Australian and Asia-Pacific customers [5]. - The company aims to further strengthen its partner network and expand its data center footprint to enhance service delivery [13].

Financial Performance - Total revenue for the fiscal year ended December 31, 2025, was $1,566,631, compared to $438,292 for 2024, reflecting significant growth driven by the GPU cloud services segment [394]. - Cost of revenue increased to $1,465,824 in 2025 from $719,993 in 2024, primarily due to expenses related to GPU cloud computing operations [397]. - The net loss for the fiscal year 2025 was $39,815,021, compared to a net loss of $3,923,998 in 2024, reflecting ongoing investments and operational challenges [394]. Expenses - Share-based compensation expenses rose to $1,761,785 in 2025 from $253,728 in 2024, as part of efforts to attract and retain key talent [398]. - Selling, general, and administrative expenses (SG&A) increased to $12,116,600 in 2025 from $2,368,745 in 2024, largely due to employee-related costs and professional fees [399]. Capital and Financing Activities - The company completed a US$103 million pre-IPO capital raising in January 2026, introducing new institutional and strategic shareholders [383]. - The company listed on NASDAQ in February 2026, raising US$125 million before costs, enhancing access to capital markets [386]. - Net cash provided by financing activities was $83.044 million for the year ended December 31, 2025, mainly from the issuance of convertible notes [415]. - The Company is actively engaged in capital raising discussions with existing and prospective investors to ensure sufficient liquidity for operations [411]. Investments and Cash Flow - Net cash used in operating activities was $2.639 million for the year ended December 31, 2025, compared to $2.206 million in 2024, indicating increased operational expenditures [412]. - Net cash used in investing activities was $13.806 million for the year ended December 31, 2025, primarily for capital expenditures related to servers and infrastructure [414]. - The Company expects to continue investing in scaling its infrastructure and operations, indicating a need for additional capital to support ongoing activities [410]. Strategic Changes - The company transitioned to a pure-play neocloud operator, divesting its 50% interest in a joint venture for US$70 million in January 2026 [384]. - The change in fair value of convertible notes resulted in a loss of $26,030,635 in 2025, reflecting the accounting treatment of newly issued notes [405]. - The Company has entered into colocation agreements for data center facilities under non-cancellable operating leases, which could impact future cash flows [422]. - The Company has obligations under managed service agreements totaling approximately $34,000 per month, affecting operating expenses and liquidity [424]. Research and Development - The Company is focused on research and development to enhance data storage software and system architecture, with ongoing projects in Australia under the R&D Tax incentive scheme [418][419]. - Goodwill of $18.0 million arose from the acquisition of Distributed Storage Solutions Pty Ltd in June 2024, with annual impairment assessments conducted [433]. Future Outlook - The company anticipates capturing increased revenue from the growing demand for AI and HPC compute resources as its GPU deployments become fully operational [390]. - As of December 31, 2025, the Company held cash of $71.07 million and closed approximately $104 million of pre-IPO funding through convertible notes, enhancing its liquidity position [409].

Core Insights - The AI compute market in Australia and the Asia-Pacific region is at an earlier stage and more constrained compared to the U.S. market, with limitations in power, capacity, and access to the latest generation GPUs [1] - SharonAI positions itself as an "AI-native" provider of high-performance computing infrastructure, focusing on large enterprises and regulated industries in Australia and the Asia-Pacific [2][4] Company Strategy and Offerings - SharonAI delivers HPC-grade computing infrastructure for various sectors, emphasizing efficiency, security, and data sovereignty [3] - The company has built a partnership-driven model with key players like NVIDIA, NEXTDC, Cisco, and WWT to enhance its service offerings and operational capabilities [7][8] Operational Progress - SharonAI is constructing an NVIDIA reference-architecture supercluster with H200 GPUs and has secured a significant customer, Canva, due to superior benchmark performance [5][11] - The company plans to expand its Sydney S6 facility, estimating a deployment of approximately 10 MW and 4,608 GPUs, with projected economics of about $4 per hour per GPU [14] Financial Overview - SharonAI has raised approximately $770 million in non-dilutive capital through various financing activities, including a $500 million debt facility and a $200 million revenue share agreement [6][13] - The company reported a successful exit from its Texas stake, selling for $70 million after an initial investment of $3.5 million [12] Market Position and Future Outlook - SharonAI aims to leverage its geographic and sovereignty advantages as an Australia-based neocloud provider, with a focus on mission-critical workloads [2][7] - The company anticipates that large customer contract wins and the deployment of megawatts and compute capacity will drive investor understanding over the next 12–18 months [15]

Summary of SharonAI Conference Call - March 19, 2026 Company Overview - **Company Name**: SharonAI - **Ticker Symbol**: SHAZ - **Exchange**: Nasdaq - **Location**: Sydney, Australia - **Industry**: AI-native, HPC-grade computing infrastructure Key Points and Arguments Business Model and Market Position - SharonAI provides AI-native, high-performance computing (HPC) infrastructure for enterprises, governments, and research organizations, focusing on the Asia-Pacific region [9][10] - The company has built over 300 megawatts of digital asset infrastructure in North America and is now focusing on the Australian market [9] - SharonAI differentiates itself from competitors like CoreWeave and Nebius by targeting large Australian and Asia-Pacific enterprises, particularly in regulated industries [10][11] Geographic and Sovereignty Advantage - Australia’s geographic position and data sovereignty needs provide a strategic advantage for SharonAI, allowing it to serve as a trusted, domestic alternative for AI compute requirements [11][12] - The company can export GPU compute tokens due to Australia’s small population and large energy resources, unlike countries with larger populations that will consume their compute internally [13] Partnerships - Key partnerships include: - **Nvidia**: Provides GPU technology and certification as an NVIDIA Cloud Partner [15][19] - **NEXTDC**: Australia’s largest data center operator, securing 54 megawatts of energy for deployment [16] - **Cisco**: Offers managed enterprise cloud AI solutions, enhancing security for regulated industries [16][17] - **WWT**: A major procurement partner that ensures timely delivery and quality assurance of equipment [17][39] Financial Performance and Capital Structure - In late 2025, SharonAI raised $100 million in a convertible note and signed a $500 million debt facility with USD.AI [20][21] - The company has approximately $1 billion in capital available for deployment, including various funding sources [25] - A projected 10 megawatts of computing power could generate about $161 million in revenue with an 80% gross profit margin [23][24] Customer Contracts and Growth Trajectory - The company won Canva as a customer, demonstrating its capability to deliver high-performance computing [19][20] - SharonAI aims to secure more large customer contracts in the near term to enhance investor understanding of its long-term strategic value [41] Market Demand and Competitive Advantage - The demand for GPU compute is high, providing SharonAI with pricing power over competitors who may face longer lead times for equipment deployment [32] - The total addressable market (TAM) in the Asia-Pacific region is significant, with a growing need for compute resources [36][37] Additional Important Information - The company has a strong executive team with extensive experience in digital asset infrastructure and technology [29] - SharonAI's strategic focus on partnerships and customer contracts is designed to reduce execution risk and enhance operational efficiency [38][39] This summary encapsulates the key insights from the SharonAI conference call, highlighting the company's strategic positioning, market opportunities, and financial outlook.

Core Viewpoint - SharonAI Holdings Inc. has partnered with World Wide Technology to deploy large-scale high-performance compute infrastructure in Australia and the Asia-Pacific region [1] Company Summary - SharonAI Holdings Inc. is identified as a leading Australian Neocloud company listed on NASDAQ under the ticker SHAZ [1] - World Wide Technology brings over three decades of global experience in delivering complex, mission-critical infrastructure [1] Industry Summary - The partnership aims to leverage WWT's capabilities in AI Factory engineering, global procurement, and supply chain management [1]

As filed with the Securities and Exchange Commission on February 6, 2026 Registration No. 333-292798 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 1 to FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 SHARONAI HOLDINGS INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 7370 41-2349750 (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identification ...

Filed with the Securities and Exchange Commission on January 30, 2026. Registration No. 333-292398 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 1 to FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 SHARONAI HOLDINGS INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) Delaware 7370 41-2349750 (I.R.S. Employer Identification Nu ...

As filed with the Securities and Exchange Commission on January 16, 2026 Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 SHARONAI HOLDINGS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 7370 41-2349750 (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identification Number) 745 5th Ave, Sui ...

Filed with the Securities and Exchange Commission on December 22, 2025. Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 SHARONAI HOLDINGS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 7370 41-2349750 (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identification Number) 745 5th Ave, Suit ...