SharonAI Holdings Inc. (SHAZ.US) shares surged more than 12% at the market open on Wednesday, reaching a new all-time high of $85.98.

The significant move follows the company's announcement on June 17th that it successfully closed an oversubscribed $1.6 billion strategic financing round.

The capital is intended to accelerate the expansion of its AI factory operations across Australia and the broader Asia-Pacific region.

Proceeds from the funding will be used to support a computational cooperation agreement with Nvidia.

The financing structure includes the issuance of $700 million in convertible senior notes, due 2032 with a 4.75% interest rate, alongside a $900 million private placement of equity.

This development builds upon a previous announcement made on June 12th, where SharonAI detailed a six-year AI infrastructure partnership with Nvidia.

The collaboration aims to add 72 megawatts of new data center compute capacity in Australia, deploying Nvidia's DSX AI factory architecture.

The long-term plan is to ultimately scale the deployment to include up to 40,000 Grace Blackwell GB300 GPUs.