Sharon AI Announces $356 Million GPU-Backed Loan
Alex Eichenstein (Briefing): Australian neocloud Sharon AI secured $356M via its first GPU-backed loan (senior secured; 9.95% interest before fees)—borrowing against chips and customer-contract cash flows to buy more Nvidia GPUs and expand DCs across Australia, New Zealand and broader APAC. Template popularized by CoreWeave’s Aug 2023 $2.3B H100-backed loan; later adopters include Nscale and Iren. Goldman Sachs among participants. Company says >$2.6B raised over past 10 months; stock fell >8% on the announcement.
Why it matters
Neocloud financing template datapoint for APAC: GPU-secured loan terms (size, 9.95%), Goldman participation, >$2.6B/10-mo raise total, and peer set (CoreWeave/Nscale/Iren)—extends Dealroom GPU-backed-debt map beyond US names.
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