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Priced above base case
What is SharonAI Holdings Inc. (SHAZ) worth?
Currently $71.00 — above the base case ($9.00) · ● live
Platform / optionality
low confidence in the point estimate
— for this profile, read the range & what the price implies, not the single number
● live · as of 2026-07-21 21:13 · Market cap $2.3B
As of 2026-07-18, SharonAI Holdings Inc. (SHAZ) looks overvalued. Dolphy estimates a fair value of $31.00 versus a current price of $71.00 — a 129% premium to fair value.
Executive summary
SharonAI Holdings (SHAZ) is an Australia-based 'neocloud' — a GPU-cloud operator deploying NVIDIA B200/B300/GB300 capacity for AI/HPC workloads — that reverse-merged into the former Roth CH SPAC in December 2025 and up-listed to Nasdaq in February 2026 raising $125M. The bull case is a genuinely large contracted backlog: a $1.26B, 60-month ESDS agreement (signed 31 Mar 2026, backed by $140M of letters of credit), plus follow-on deals of ~$950M (13 May 2026) and ~$1.32B (announced 16 Jul 2026), and a headline NVIDIA collaboration for a 72MW AI factory and up to 40,000 GB300 GPUs. The reality today: ~$1.5M TTM revenue, negative gross margin, ~$20M quarterly net loss, and a business that must finance billions of dollars of GPUs and data-center capacity before that backlog becomes cash. At $63.64 (~$2.26B market cap) the stock trades at ~6.5x EV/revenue on a hypothetical $350M future revenue and ~25x its Q1-2026 book value of ~$2.50/share. We value it as an optionality bet, not on cash flow (which is deeply negative). Our probability-weighted fair value is ~$31/share, a meaningful discount to the market price — i.e., the shares carry a premium that already discounts substantial backlog conversion AND clean financing. This is a low-confidence, wide-distribution name: a defensible bet only for investors sizing it as a small, high-variance position.
How we value it
Probability-weighted scenarios (backlog-conversion NAV / EV-revenue), with reverse checks on implied expectations
Every figure is computed from SEC filings by the analyst’s calculator tools and fact-checked by a second, independent model.
Investment thesis
About SharonAI Holdings Inc.
SharonAI Holdings Inc. operates as a computing company specializing in accelerated compute platforms, AI infrastructure, and cloud GPU environments. It operates through a hybrid model that combines deployment in data centers with the development of its data center facilities in strategic locations. Its platform integrates compute, storage, networking, and automation into a unified enterprise solution serving AI labs, hyperscale customers, research institutions, and regulated industries. The company has a strategic compute collaboration with NVIDIA to deploy 72MW AI factory and up to 40,000 Grace Blackwell GB300 GPUs in Australia. The company was formerly known as Roth CH Holding Inc. SharonAI Holdings Inc. was founded in 2024 and is based in New York, New York.
Frequently asked questions
Is SHAZ a buy?
As of 2026-07-18, SharonAI Holdings Inc. (SHAZ) looks overvalued. Dolphy estimates a fair value of $31.00 versus a current price of $71.00 — a 129% premium to fair value.
What is SHAZ's fair value?
Dolphy's estimated fair value for SharonAI Holdings Inc. (SHAZ) is $31.00, versus a current market price of $71.00.
Is SHAZ overvalued or undervalued?
SharonAI Holdings Inc. (SHAZ) currently looks overvalued — trading at a 129% premium to Dolphy's estimated fair value of $31.00.
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AI-generated research by Dolphy for educational and informational purposes only — not investment advice. Figures are computed from public sources and may contain errors.