SharonAI Holdings (NASDAQ: SHAZ) has signed a five-year cloud computing services agreement worth US$1.32 billion with an unnamed global AI laboratory.

Under the contract, the Australian neocloud provider plans to deploy computing infrastructure across data centres in New Zealand, with revenue expected to begin in the first half of 2027.

SharonAI said its planned AI factory capacity totals 132MW, including 116MW contracted to customers. The company expects to deploy more than 62,000 Nvidia GPUs by mid-2027. 

“We are excited to be deploying our first AI Factory in New Zealand. The established data centre infrastructure and future growth potential in the country provide Sharon AI with a strong foundation for future expansion,” said co-founder and CEO James Manning.  

Manning said the company continued to see demand from enterprises, governments, hyperscalers, AI companies and research organisations across Asia Pacific and other markets.

Sharon AI provides GPU and CPU cloud infrastructure for AI workloads. Its platform supports the development of AI factories and sovereign AI systems.

New Zealand is well placed to capture a share of the global data centre market due to its renewable energy resources, strong fibre connectivity and stable operating environment. 

A February 2026 report by BCG estimated that the sector could generate up to NZ$70 billion in economic activity over the next decade, including 600MW of new data centre capacity and about 3.5TWh of additional renewable generation. 

Several hyperscalers and data centre operators are active in the country, including AWS, Microsoft, Spark New Zealand and CDC Data Centres. Google has also announced plans to launch a cloud region in New Zealand.

The agreement follows Sharon AI’s US$1.6 billion private placement in June, comprising about US$900 million from the sale of common shares and pre-funded warrants, and US$700 million in 4.75% convertible senior notes due in 2032.

The financing was anchored by Situational Awareness LP and funds managed by Oaktree Capital Management, with participation from new and existing institutional and strategic investors.