Sharon AI to Raise $1.6 Billion in Private Placement of Stock, Debt

Sharon AI disclosed plans to raise about $1.6 billion through private placements of stock and convertible notes, with $900 million in stock and $700 million in convertible debt. The funds will support a six-year deal to deploy Nvidia chips at one of Australia’s largest data centers, accelerate its data center footprint, and expand capacity. Anchors for the financing include hedge fund Situational Awareness and funds managed by Oaktree Capital Management, with closings expected around June 22. Sharon’s shares jumped 21% to $93.05 after the financing was disclosed. The transaction underscores a major push into AI infrastructure development within Australia’s data-center ecosystem.