SharonAI Holdings Inc.

What they do

The company deploys NVIDIA B200, B300 and anticipated GB300 GPUs into partner data centers such as NEXTDC under long-term contracts, rather than building its own facilities. It sells sovereign, low-latency AI/HPC compute to enterprise, government and research customers in Australia, and maintains two business lines: an AI/HPC cloud platform in Australia and U.S.-based data center asset development. Partnerships include NVIDIA (as an NVIDIA Cloud Partner), Cisco, World Wide Technology, Lenovo, VAST Data and Megaport.

Revenue drivers

• AI/HPC cloud platform (Australia) — The primary operating business, delivering GPU-based compute for AI training and inference; revenue rose from $438,292 in 2024 to $1.6M in 2025 and reached $1,931,381 in the quarter ended June 30, 2026.
• Data center asset development (U.S.) — Historically pursued via the 50:50 Texas Critical Data Center LLC joint venture with New Era Energy & Digital; the company sold its 50% interest in January 2026 for US$70 million and shifted to a pure-play neocloud model.
• Enterprise and government sovereign AI contracts — The company cites commercial wins with AI-native Canva and GMI Cloud US Inc. as evidence of demand from large, sophisticated AI/HPC customers; segment-level revenue is not disclosed in the excerpts.

Recent performance

Revenue for the quarter ended June 30, 2026 was $1,931,381 versus $376,984 in the prior-year quarter, with cost of revenue of $761,755 producing gross profit of $1,169,626 compared with a gross loss of $21,282 a year earlier. Six-month 2026 revenue was $2,225,396 against $702,077 in the first half of 2025. Total operating expenses remained heavy, including $2,670,588 of share-based compensation, $8,685,424 of SG&A and $14,597,792 of other expenses in the June 2026 quarter. Full-year 2025 revenue was $1.6M with a net loss of $39.6M, and 2024 revenue was $438,292 with a net loss of $3.9M.

Strategy

Management announced a strategic pivot in December 2025 from a hybrid site-development model to a pure-play neocloud operator, selling its TCDC joint venture stake to New Era. It raised US$103 million via unsecured convertible notes in January 2026, with Digital Alpha Advisors participating, and raised US$125 million before costs in a February 2026 Nasdaq listing. The company completed its business combination with Roth CH in December 2025, becoming SharonAI Holdings Inc. and trading on OTC Markets before the Nasdaq listing. It is investing in proprietary operating software and cloud platforms intended to support higher-quality customers and long-term scalability, and describes its data center partner model as capital-efficient and faster to market than building its own facilities. James Manning replaced Wolfgang Schubert as CEO in January 2026.

Risks

• Limited operating history and continuing losses — The company has incurred net losses since inception, including a $39.6M net loss in 2025, and states it expects to continue incurring losses in the near future.
• Heavy reliance on third-party GPU and data center partners — Compute hardware comes from NVIDIA and capacity is deployed in partners' facilities such as NEXTDC, so supply, pricing or partnership changes could disrupt service delivery.
• Customer concentration and early commercial scale — Revenue is small in absolute terms and tied to a limited set of named customers such as Canva and GMI Cloud US Inc., so the loss of a major customer would be material.
• Public-company transition and financial reporting complexity — The company completed a reverse-style business combination in December 2025 and subsequently filed a 10-Q/A to correct net loss per share and stockholders' equity figures, indicating reporting control challenges.

Outlook

Management states the 2025 investments in software and cloud platforms were foundational and are expected to support higher-quality customer acquisition, operational efficiencies and long-term revenue growth, though they did not materially improve near-term financial performance. The company describes its shift from storage services to GPU cloud as aligned with demand for scalable AI infrastructure, but characterizes GPU cloud demand as strong in theory. The February 2026 Nasdaq listing is described as providing access to U.S. capital markets that could lower the weighted average cost of capital while minimizing near-term dilution. The excerpts do not quantify forward revenue or profitability targets.