Sharon AI to Raise $1.6 Billion in Private Placement of Stock, Debt

Dow Jones06-17

By Dean Seal

Sharon AI said it has secured $1.6 billion in financing with a $900 million private placement of stock and a $700 million private placement of convertible senior notes.

The Australian technology company said it plans to use proceeds from the transactions to support its six-year deal to deploy Nvidia chips at one of Australia's biggest data centers.

The financing will also help Sharon accelerate the expansion of its data center footprint and capacity, the company said.

The pair of private placements are anchored by the hedge fund Situational Awareness and funds managed by the investment firm Oaktree Capital Management. They are expected to close on or about June 22.

Sharon shares jumped 21% to $93.05 after the financing was disclosed.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

June 17, 2026 09:49 ET (13:49 GMT)

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