SharonAI Signs $1.32B Cloud Computing Deal, Shares Tumble 7% on Thursday But B. Riley Calls Buy-the-Dip Opportunity

SharonAI Holdings Inc. (SHAZ) signed a $1.32 billion cloud computing service agreement with a global artificial intelligence lab on Thursday (July 16), with revenue expected to commence in the first and second quarters of 2027. The company will deploy cloud computing solutions across data center infrastructure in New Zealand.

Shares tumbled nearly 7% on the day, but B. Riley analyst Fedor Shabalin views the decline as a buying opportunity, noting this marks the company's "third major capacity announcement in roughly five weeks." B. Riley reiterated its 'Buy' rating and $124 price target for SHAZ.