SharonAI Holdings Inc. (NASDAQ: SHAZ) announced the successful delivery and customer acceptance of an initial AI cloud deployment for an unnamed global technology company with a major Asia-Pacific presence, according to a press release.

The acceptance marks the completion of a key milestone under a five-year AI cloud infrastructure agreement valued at approximately $950 million. Customer acceptance also triggers the release of cash security held in escrow.

The deployment is the first phase of the contract. Sharon AI said it expects to deliver additional Nvidia GPU clusters over the coming months, with revenue expected to commence in stages during the third and fourth quarters of 2026. The company is deploying AI cloud solutions across multiple data centers in Australia.

"This successful deployment demonstrates our ability to bring together a global partner ecosystem and coordinate specialist teams to meet customer delivery requirements," said James Manning, co-founder and chief executive officer of Sharon AI.

Sharon AI said it has secured 212 megawatts of AI factory capacity, of which 120 megawatts is contracted under multi-year take-or-pay agreements. The company said the accepted deployment represents further progress in bringing its secured and contracted capacity online.