SharonAI raises $1.6B, posts $430M Q2 loss on convertible-note fair-value hit

Filed August 6, 2026 · Period ending June 30, 2026 · ~1 min read

Key Changes

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  Q2 2026 net loss of $430M driven by $400M fair-value loss on December 2025 convertible notes (99% converted June 11) as share price rose. gross profit $1.2M vs. $(21)K loss in Q2 2025.

  MD&A: Q2 2026 financial results verify on EDGAR →
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  Disclosure controls ineffective as of June 30, 2026 due to material weakness in accounting for complex financial instruments, first identified December 2025. Remediation underway (strengthened accounting personnel, enhanced review controls, third-party consultants) but not yet complete.

  Controls: material weakness verify on EDGAR →
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  Company entered six-year NVIDIA collaboration to deploy 72MW AI factory with up to 40,000 Grace Blackwell GB300 GPUs in Australia. NVIDIA earns product revenue plus cloud-revenue share; Sharon AI sells cloud services under revenue-sharing and credit-support model.

  MD&A: NVIDIA AI Factory collaboration verify on EDGAR →