Sharon AI Acquires Distributed Storage Solutions for $25 Million

Sharon AI, Inc., a HPC business focused on AI Cloud GPU Compute Infrastructure, acquired Distributed Storage Solutions Pty Ltd (DSS) in Australia for $25 million and appointed highly experienced financial markets executive Wolf Schubert as CEO.

The acquisition of DSS brings to the combined entity strategic relationships with Lenovo and Nvidia, as well as an experienced operational team with over 15 years of data center operations and energy infrastructure management experience.

The company’s GPU (AI training and inference) compute infrastructure and cloud storage assets will be deployed across new and existing tier-3 and-4 co-location data center facilities and company-owned tier-3 data center facilities in the USA.

The transaction valued DSS at $25 million and consideration was paid in Sharon AI common stock.

Wolf Schubert has over 25 years US financial markets experience, holding senior positions across finance and risk management at firms including Goldman Sachs, JP Morgan, Vista Equity Partners, Strategic Value Partners and Silverpoint Capital.

He commented:” We are looking forward to expanding our existing AI GPU Compute and Cloud Storage operations in 2024 and beyond, driven by Sharon AI’s board and management team who have significant experience in energy markets and data center infrastructure. Our team has previously deployed over 100 modular data centers across more than 200MW of energy capacity in the US. The demand for GPU specific workloads and specialized data centers driven by generative AI is enormous and we are excited about the opportunities in front of us.”

DSS is committed to sustainable and robust storage infrastructure in the Filecoin Network.