SharonAI Holdings Secures $356M Debt Facility Backed by GPUs
Australian AI infrastructure provider SharonAI Holdings has closed a $356 million senior secured debt facility, using its graphics chips and customer contracts as collateral.
SharonAI Holdings, an Australian AI infrastructure provider listed on the Nasdaq under the ticker SHAZ, finalized a $356 million senior secured debt facility on October 1, 2026. The financing deal involved participation from Goldman Sachs and several private credit funds.
The loan is structured with a fixed interest rate of 9.95%, excluding fees. According to the company, the capital will be used to fund compute infrastructure deployments linked to existing customer contracts. The firm currently holds a customer offtake book valued at more than $8.8 billion, which serves as the foundation for the financing arrangement.
CEO James Manning stated that the deal demonstrates how a high-quality offtake book can provide access to debt markets. Manning noted that utilizing debt capital allows the company to expand its AI infrastructure without diluting existing ownership, while also supporting growth amid strong demand.
This transaction is part of a broader fundraising effort for SharonAI, which has secured over $2.6 billion in institutional debt and equity during the last ten months. This includes a $1.6 billion financing round from June 2026, consisting of approximately $900 million in equity and warrants, alongside $700 million in convertible notes due in 2032.
The company aims to deploy more than 68,000 Nvidia GPUs by mid-2027, with a goal of reaching gigawatt-scale capacity across Australia, New Zealand, and the Asia-Pacific region.
The structure of the new debt facility reflects the nature of the collateral, as lenders have tied the loan to both the hardware and the revenue generated by customer contracts. This approach addresses the risk associated with GPU depreciation and the rapid release of newer hardware generations.
