Shares of SharonAI Holdings Inc. (NASDAQ:SHAZ) climbed 8.8% in premarket trading Thursday after the company disclosed a cloud computing infrastructure contract with a global technology company. The arrangement is valued at approximately $950 million over a five-year period.
Under the terms outlined by SharonAI, the company will deploy cloud computing solutions across multiple NEXTDC data centers located in Australia. The agreement calls for revenue to begin to be recognized by the end of the third quarter and the fourth quarter of 2026, according to the company announcement.
Central to the deployment will be the Vast Data AI Operating System. SharonAI said the Vast Data system consolidates storage, database, compute and real-time processing into a single platform. By collapsing layers that are traditionally kept separate in the technology stack, the Vast Data architecture is presented as enabling customers to run workloads more efficiently.
The company framed the deal as part of an ongoing effort to expand its AI Cloud business in the region. In a statement included with the announcement, James Manning, Co-Founder and CEO of Sharon AI, said, "We are thrilled to continue to expand our AI Cloud business, building and deploying the latest cloud computing infrastructure in Australia with NEXTDC and Vast Data. This contract follows on from our previously announced agreements in the region, and our customer pipeline continues to grow."
SharonAI described itself as seeing demand across a range of end markets, specifying enterprise, hyperscale, research and AI native sectors throughout Australia and the Asia-Pacific region.
NEXTDC also commented on the agreement. David Dzienciol, Chief Customer Officer & Chief Commercial Officer at NEXTDC, said the company is pleased to strengthen its partnership with Sharon AI and see compute infrastructure deployed across its facilities in Australia.
The announcement ties a multi-year, near-billion-dollar contract to the rollout of an integrated AI-oriented technology stack in NEXTDC data centers, and the market reacted to the scale and timing of the deal in premarket trading.