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Australian Group Sharon AI Raises $US350 Million Ahead of ASX Listing

The Australian Financial Review

ENRICHED

Details

Date Published
28 Apr 2026
Priority Score
1
Australian
Yes
Created
29 Apr 2026, 06:00 am

Authors (1)

Description

The artificial intelligence infrastructure start-up has tapped institutional investors to buy AI chips, just two months after its US sharemarket listing.

Summary

This funding round highlights the aggressive expansion of Australian high-performance computing infrastructure used to support large-scale AI processing. While focused on commercial growth and data center capacity, the scaling of compute resources is a critical factor in the emergence of frontier AI capabilities that pose potential catastrophic risks if not governed. The development underscores Australia's growing role in the global AI supply chain, specifically through the procurement of hardware essential for training and deploying advanced models. Establishing such domestic infrastructure has long-term implications for national AI sovereignty and the implementation of safety standards at the hardware and hosting level.

Body

TechnologyData centresPrint articleTess BennettTechnology reporterApr 28, 2026 – 9.45amSharon AI, the Sydney-headquartered, Nasdaq-listed artificial intelligence start up, has taken advantage of investor demand for access to the booming data centre sector to raise $US350 million ($487 million) as it prepares to pitch a local float to Australian fund managers this week.Rather than build its own data centres, Sharon AI hosts its equipment in partners’ facilities, such as NextDC, and rents access to AI chips to businesses like Canva to power their processing.Loading...SaveLog in or Subscribe to save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? LoginLicense articleFollow the topics, people and companies that matter to you.Find out moreRead MoreData centresAIIPOCapital raisingSharesCanvaNvidiaASX LimitedMacquarie BankMacquarie GroupFetching latest articles