SharonAI Holdings Inc. (NASDAQ: SHAZ) experienced a 10% gain in its share price on Thursday after announcing a five-year cloud services contract valued at $1.32 billion with a global Artificial Intelligence Lab.
The agreement calls for SharonAI to supply cloud computing solutions across data center infrastructure located in New Zealand. According to the company, revenues tied to the contract are anticipated to begin in the first and second quarters of 2027.
SharonAI described itself as an Australian Neocloud provider and reported that its total AI Factory capacity currently stands at 132MW. Of that capacity, 116MW is already under contract to end customers, the company said.
In addition to capacity figures, SharonAI provided a deployment target for accelerator hardware: the company expects to deploy more than 62,000 NVIDIA GPUs by mid-2027.
Commenting on the New Zealand project, James Manning, Co-founder and CEO of SharonAI, said: "We are excited to be deploying our first AI Factory in New Zealand." He added, "The established data center infrastructure and future growth potential in country provide Sharon AI with a strong foundation for future expansion."
Manning also stated that SharonAI continues to observe strong demand from a range of customer types, explicitly including enterprise, government, hyperscale, AI native and research customers across Asia-Pacific and Rest of World.
Below are the key factual elements disclosed by the company: the five-year, $1.32 billion contract; New Zealand as the deployment location; revenue commencement expected in Q1 and Q2 of 2027; AI Factory capacity of 132MW with 116MW contracted; and an expected deployment of more than 62,000 NVIDIA GPUs by mid-2027.
The company statement and executive comments provide the basis for the stock move announced on Thursday. No additional timelines or contingencies beyond the revenue commencement window in 2027 were disclosed in the company statements provided with the announcement.