Sharon AI (SHAZ): GPU Deployment and Revenue Timeline

Bottom line

Sharon AI is already revenue-generating from a small installed fleet: it reported 411 deployed GPUs at year-end 2025 and $1.9 million of total revenue in Q2 2026. The first major contracted-capacity ramp is expected to begin in Q3 2026.

Timing	Expected milestone
Q3 2026	~8,200 NVIDIA B300 GPUs for ESDS; delivery targeted for September 16, with revenue expected in Q3.
Q3–Q4 2026	Phased revenue start for the separate $950 million contract across Australian NEXTDC facilities.
Q1 2027	Revenue expected from a $373 million contract using 2,048 B300 GPUs.
Q1–Q2 2027	Revenue expected from the $1.32 billion New Zealand AI Factory contract.
Mid-2027	More than 64,000 NVIDIA GPUs targeted for deployment.
End-2027	212 MW of secured data-center capacity targeted for deployment.

Management's latest guidance is for revenue to ramp materially from Q3 2026 through 2027 as larger clusters come online.

Key watch item

An earlier filing expected initial 1,000-B200 and 1,024-B300 clusters online in the first half of 2026, but the Q2 update did not clearly confirm full commissioning. The Q3 revenue ramp and September ESDS delivery deadline are the nearest execution tests.The reported $8.8 billion of total contract value is not recognized GAAP revenue; revenue is generally recognized monthly only after capacity becomes operational.

Sources

• 2025 Form 10-K
• ESDS contract Form 8-K
• Q2 2026 results
• Q2 2026 earnings presentation