USD.AI approves $500M loan for Australian AI firm Sharon AI

On-chain lending protocol USD.AI has approved a $500 million loan for Australian AI infrastructure provider Sharon AI, The Block reported. The loan will support the expansion of Sharon AI's GPU deployment, and the company plans to use the facility to finance an initial $65 million GPU acquisition starting this quarter. USD.AI operates as a blockchain-based lender for AI startups that have difficulty accessing traditional financial systems, providing loans collateralized by tokenized GPU assets.