Sharon AI shares soar on $1.8b deal despite posting bigger loss

Australia-based artificial intelligence group Sharon AI has announced a $1.8 billion supply deal and a separate tie-up with Canva, sending its shares skywards despite delivering bigger losses in its first earnings release since floating on the Nasdaq.

Sharon AI, which listed on the US exchange in February under the ticker Shaz, rents out access to equipment and high-end computer chips from Nvidia and AMD which businesses need to power their AI processing. It is a major rival to $6 billion-valued Firmus Technologies.

Source: https://www.afr.com/technology/sharon-ai-shares-soar-on-1-8b-deal-despite-posting-bigger-loss-20260402-p5zku4