SharonAI Holdings Inc. (NASDAQ:SHAZ) shares are trading higher Tuesday after a Schedule 13G filing revealed that Situational Awareness LP, the investment fund led by former OpenAI researcher Leopold Aschenbrenner, increased its stake to 19.9% in the company. The filing shows Situational Awareness LP and its affiliated entities beneficially own 5,404,540 shares of SharonAI’s Class A Ordinary Common Stock, consisting of 1,696,127 shares plus warrants to purchase an additional 6,374,823 shares. Separately, the company announced the closing of its previously announced $1.6 billion private placement financing, which consisted of approximately $900 million in Class A Ordinary Common Stock and pre-funded warrants, plus $700 million in 4.75% Convertible Senior Notes due 2032. Situational Awareness L.P. and funds managed by Oaktree Capital Management anchored the transaction. SharonAI intends to use the proceeds to support its previously announced six-year strategic compute collaboration with NVIDIA, under which the company plans to deploy one of Australia’s largest AI Factories, including up to 40,000 Grace Blackwell GB300 GPUs. At the time of publication, SharonAI shares are trading 5.62% higher at $85.55.