GreenSquareDC signs Sharon AI for first stage of Sydney data center campus

GreenSquareDC said last week that Sharon AI, the Nasdaq-listed Australian neocloud, has signed a long-term customer contract for the first stage of its SYD1 campus in Western Sydney. Sharon expects to deploy roughly 8,200 Nvidia Blackwell Ultra GPUs there, with initial operations targeted for the fourth quarter of 2026. A named tenant for stage one is what a multi-year campus can be financed against, and the name behind this lease listed only this year.

Charles Penny, GreenSquare's chief executive, called the commitment an important milestone for selling AI-ready capacity at speed and density, and said the focus now is execution: bringing next-generation capacity online safely, reliably and on schedule.

GreenSquare launched in October 2022 and was acquired by Swiss private equity firm Partners Group in March 2025. Its Sydney site is a former IBM property at 3 Brookhollow Avenue, where the company is refurbishing a legacy data center and planning new buildings for a 110MW campus; the Perth development it started with was dropped earlier this year, and a large-scale project in Melbourne is in planning.

Sharon went public earlier this year and says it has 212MW of capacity online or in development and about 64,000 Nvidia GPUs due to be deployed by mid-2027; the 8,200 GPUs headed for Sydney amount to roughly an eighth of that total. Its existing Australian capacity runs through Equinix in Sydney and NextDC in Melbourne, and its most recent earnings presentation listed GreenSquare and CDC among its data center partners. The company recently bought a former paper mill in New South Wales and has a large project planned in Texas.

The contract's price is not in the coverage — the same blank column left in New Era's 20-year gas contract, which named the counterparty and the term and omitted the price. Whoever finances stage one will be underwriting Sharon's deployment schedule as much as the lease.

SYD1 also starts from an existing shell: the first stage sits where a data center already stands and is being refurbished, at the front end of a campus planned for 110MW. With grid connection and consent setting the build calendar, refurbishing is a smaller step than breaking ground; how the campus's power is contracted isn't in the coverage, and for an AI development of that size the power arrangement is likely what decides when a second stage follows.