Sharon, Pennsylvania – July 9th, 2024 — Sharon AI, Inc (“Sharon AI”) a High-Performance Computing (“HPC”) business focused on Artificial Intelligence (“AI”) Cloud GPU Compute Infrastructure, announces that it has acquired Distributed Storage Solutions Ltd (“DSS”) for US$25M and appointed highly experienced financial markets executive Wolf Schubert as Chief Executive Officer.

The acquisition of DSS brings to the combined entity strategic relationships with Lenovo and Nvidia, as well as a highly 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 & 4 co-location data center facilities and company-owned Tier 3 data center facilities in the USA.

The transaction valued DSS at US$25m 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.

Wolf Schubert, CEO of Sharon AI Inc, 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.”