SharonAI Holdings Inc. (NASDAQ:SHAZ) shares gained 10% after the company announced a five-year cloud computing services contract worth approximately $1.32 billion with a global artificial intelligence laboratory.
The agreement will see Sharon AI provide cloud computing infrastructure through data centres located in New Zealand, with revenue expected to begin flowing during the first and second quarters of 2027.
New Zealand expansion supports long-term growth
The Australian Neocloud provider said the contract marks the launch of its first AI Factory in New Zealand, expanding its footprint across the Asia-Pacific region.
The company said its AI Factory platform currently has total capacity of 132MW, with 116MW already committed under customer contracts.
Sharon AI also expects to deploy more than 62,000 NVIDIA GPUs by the middle of 2027 as it continues to scale its infrastructure.
“We are excited to be deploying our first AI Factory in New Zealand,” said James Manning, Co-founder and CEO of Sharon AI. “The established data center infrastructure and future growth potential in country provide Sharon AI with a strong foundation for future expansion.”
Demand for AI infrastructure continues to grow
Management said customer demand remains strong across multiple industries, including enterprise, government, hyperscale cloud providers, AI-native businesses and research institutions.
Manning added that Sharon AI continues to see expanding opportunities throughout the Asia-Pacific region and other international markets as organisations invest in large-scale AI computing capacity.
SharonAI Holdings stock price
