Sharon AI shares rise despite major loss on $1.8 billion deal

Australia-based artificial intelligence company Sharon AI has announced a $1.8 billion supply deal and a separate collaboration with Canva, sending its shares higher even as it posted steeper losses in its first earnings release since going public on the Nasdaq.

Sharon AI, which listed on the U.S. stock exchange in February under the ticker symbol Shaz, leases access to devices and high-end computer chips from Nvidia and AMD that companies need for their AI processing. It is a major competitor to the $6 billion firm Firmus Technologies.

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