BUZZ-SharonAI secures a $356 millions debt agreement, stock price surge fuels AI expansion

October 1 - ** Shares of Australian artificial intelligence infrastructure company SharonAI Holdings SHAZ.O, listed in the US, rose 1% in pre-market trading to $55.61

** SHAZ secured $356 million in fixed-rate debt financing at an interest rate of 9.95% to fund its AI infrastructure expansion

** The company said the funds will support its plan to deploy more than 68,000 Nvidia GPUs by mid-2027, expanding its AI computing capacity in Australia, New Zealand and the Asia-Pacific region

** Seven analysts have an average “Buy” rating on SHAZ; the median target price is $110—data compiled by LSEG

** As of the previous trading day's close, SHAZ's performance for the year was largely flat

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