Sharon AI targets larger ASX debut as Meta weighs equity raise for AI push

Neocloud Sharon AI is scaling up its planned Australian listing beyond the previously anticipated US$200 million, while Meta Platforms faces market headwinds over potential capital raises for its data-center expansion.

By Handelsavisen Newsroom · Automated 2026-07-02 05:11 UTC · 1 min read

Sharon AI is preparing for an initial public offering on the Australian Securities Exchange that significantly exceeds earlier expectations.

The neocloud provider, which facilitates access to GPU computing power, is targeting a deal size larger than the US$200 million (approximately AUD 290 million) previously anticipated by market observers.

This upward revision in valuation comes as the company seeks to capitalize on surging demand for artificial intelligence infrastructure, positioning itself against competitors like Firmus in the rapidly evolving neocloud sector.

The move by Sharon AI contrasts with recent turbulence for major tech incumbents.

Meta Platforms saw its shares decline following reports that the company is considering raising tens of billions of dollars through a stock offering to fund its aggressive AI infrastructure build-out.

Unlike Sharon AI’s focus on multi-year contracts for dedicated compute resources, Meta is reportedly targeting shorter-term engagements and will not engage in spot trading of GPU access, highlighting divergent business models within the AI infrastructure stack.