Sharon AI signs five-year Rafay deal as GPU capacity plans grow
The platform is designed to scale to 150,000 GPUs, while Sharon AI’s second-quarter revenue was $1.9 million against a $430.4 million net loss.
Sharon AI Holdings has signed a five-year agreement with Rafay Systems to provide software for provisioning, monitoring and governing computing capacity across its AI Factory data centres. The agreement, reported by Yahoo Finance, is intended to give the company a common orchestration layer as it expands across Asia-Pacific.
The platform is designed to scale to 150,000 GPUs over the contract term. That is a design capacity, not a count of GPUs installed or operating. Sharon AI reported 212 megawatts of secured data centre capacity and $8.8 billion in total contract value as of 6 August.
The commitments include a six-year NVIDIA collaboration valued at $4.9 billion, an agreement worth $1.32 billion with an AI lab in New Zealand, and a $373 million GPU contract, according to the report. Sharon AI expects more than 64,000 NVIDIA GPUs to be installed by mid-2027.
The reported contract value stands well apart from current revenue. Sharon AI recorded $1.9 million in second-quarter 2026 revenue, up 412 per cent year on year, and a net loss of $430.4 million. Adjusted EBITDA was $0.6 million.
Yahoo Finance reported that $423.8 million of the quarterly loss was non-cash, mostly reflecting fair-value changes on convertible notes. The company ended the quarter with $1.9 billion in cash, with funding also coming from a private placement, a convertible notes offering and the sale of its Texas data centre unit.
The key financial question is how quickly contracted capacity turns into recurring revenue. The company expects meaningful revenue growth from the second half of 2026 into 2027, but the agreement and headline contract value do not establish when or how much revenue will be recognised.
