US Stock Market Move | "On completion of exceeding $1.6 billion in funding, SharonAI Holdings (SHAZ.US) surged over 12% to expand the AI factory."

On Wednesday, SharonAI Holdings (SHAZ.US) surged more than 12% in early trading, hitting a new high since its IPO, and is now trading at $85.98. In terms of news, on June 17th, SharonAI announced the completion of a $1.6 billion oversubscribed strategic financing to accelerate the expansion of its AI factories in Australia and the Asia-Pacific region. The funds raised from this financing will be used to support a computing cooperation agreement with NVIDIA Corporation, including the issuance of $700 million in convertible senior notes due in 2032 with a 4.75% interest rate and $900 million in private equity issuance. On June 12th, SharonAI announced a six-year AI infrastructure compute cooperation agreement with NVIDIA Corporation to increase data center compute capacity by 72 megawatts in Australia, deploy NVIDIA Corporation DSX AI Factory architecture, and eventually expand to as many as 40,000 Grace Blackwell GB300 GPUs.