r/SharonAI

Second Quarter 2026 Highlights

Customer Momentum

$4.9bn, six-year strategic compute collaboration with NVIDIA for up to 40,000 GB300 GPUs
$950m, five-year, take-or-pay contract with a global technology company with major Asia-pacific presence

Capacity and Platform

Expanded VAST Data partnership: 600PB VAST AI Operating System deployed as the foundational data layer, sized to support ~100,000 GPUs

Balance Sheet and Capital

Well funded for the near-term build-out following the $1.6bn oversubscribed private placement, $350m convertible notes offering, and the accelerated receipt of $74m in proceeds from the divestment of Texas Critical Data Centers (“TCDC”)
Leadership and Governance
Appointed Andrew Penn AO as Non-Executive Chairman
 
Second Quarter 2026 Financial Results

Revenue: $1.9m, an increase of 412% from 2Q 2025
Net income (loss): $(430.4m), including non-cash items totaling $423.8m, primarily reflecting a $400.4m fair value loss on convertible notes resulting from share price appreciation, compared to a net loss of $(2.6m) in 2Q 2025.
Adjusted EBITDA1: $0.6m, compared to $(1.7m) in 2Q 2025
Cash and cash equivalents: $1.9bn at June 30, 2026
Total Contract Value (“TCV”)2: $8.8bn as of August 6, 2026