Jul 2, 2026 – 3.02pmNeocloud Sharon AI is targeting a deal size much bigger than the $US200 million ($290 million) offer that was previously anticipated ahead of its arrival on the ASX boards.That is despite news overnight of Meta Platforms’ move to rent out compute power which battered the share prices of AI-exposed companies from direct rivals CoreWeave and Megaport to data centre landlords such as NextDC.Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?
Sharon AI flags ‘much bigger’ ASX debut even as Meta burns DC stocks
Meta won’t exactly be spot trading GPU access, and will target shorter contracts than the multiyear deals chased by Sharon AI and Firmus.
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