SharonAI Holdings secures $356M GPU-backed debt facility

SharonAI Holdings has found a new way to pay for graphics chips: use the graphics chips as collateral. The Nasdaq-listed Australian AI infrastructure provider, which trades under the ticker SHAZ, closed a US$356 million senior secured GPU-backed debt facility on October 1, 2026. Goldman Sachs and select large private credit funds took part in the deal. The loan is secured by the GPUs themselves and by the cash flows from SharonAI’s customer contracts. The terms of the deal The facility carries a fixed interest rate of 9.95%, excluding fees. SharonAI says the proceeds will fund compute infrastructure deployments tied to existing customer contracts. The company’s customer offtake book is valued at over US$8.8 billion, and that pipeline of contracted revenue underpins the whole financing structure. CEO James Manning framed the deal as proof that a high-quality offtake book can open doors in the debt markets. He also pointed to the return-on-equity benefit, since borrowing lets the company grow without spreading ownership thinner. Manning added that debt capital is central to expanding secure AI infrastructure while demand stays strong. A fundraising streak that keeps going This facili...