GPU cloud platforms Sharon AI and Lambda secure combined $1.356bn in debt funding.

Australia's Sharon AI and Lambda have separately announced major GPU-backed debt financing rounds, reflecting growing investor confidence in cryptocurrency infrastructure assets.

Sharon AI secured $365 million in senior secured debt backed by its GPU inventory, issued at a fixed rate of 9.95 percent. The funding is backed by Sharon AI's GPUs and associated cash flows and represents the first in an expected series of financings to support the company's deployment of 68,000 Nvidia GPUs by mid-2027. In the past ten months, Sharon AI has raised $2.6 billion through combined debt and equity offerings.

"As demand for sovereign and secure, trusted AI infrastructure continues to outpace available supply globally, and particularly across Australia, New Zealand and the broader Asia-Pacific, access to scalable debt capital is an important enabler of our growth," said James Manning, Sharon AI's co-founder and CEO. He noted that the company's customer contracts represent over $8.8 billion in total contract value and enable it to access debt markets efficiently. "With a strong balance sheet, growing contracted capacity pipeline and a disciplined approach to capital allocation, we are well positioned to continue scaling our AI platform across the Asia-Pacific region."

Sharon AI recently secured capacity at GreenSquare's Sydney data center, where it plans to deploy 8,200 Nvidia Blackwell Ultra GPUs. Jarden Australia served as sole financial advisor and arranger on the debt round.

Lambda, meanwhile, raised $1 billion in senior secured fixed-rate financing structured as an investment-grade delayed-draw term loan marketed to insurance companies and fixed-income investors. The loan carries a 6.78 percent fixed interest rate and will fund GPU infrastructure for three customer deployments to which Lambda is contractually committed. This marks Lambda's second institutional credit facility, following a $926 million facility secured in August 2026.

"The capital in this offering underwrites infrastructure in decades, not quarters, and has funded us as a private company on the strength of our customer contracts," said Michel Combes, Lambda's CEO. "Building on our investment-grade Term Loan B and bank lending facility, this is the third new credit market Lambda has opened in the last eighteen months. Our progression into deeper and more diversified pools of capital is the market's verdict on the durability of our contracts and the scalability of our business." J.P. Morgan served as sole coordinating lead arranger, structuring agent, and bookrunner.

GPU-backed loans remain a novel financing tool. Hardware historically depreciates rapidly, making it an unreliable collateral asset; however, sustained AI demand is extending the useful lifespan of GPU inventory, making these loans increasingly viable. CoreWeave and Nscale have secured similar facilities.