Tencent weighs US$5 billion offshore bond sale for AI push, Bloomberg reports
Tencent is considering raising up to US$5 billion through an offshore bond sale to fund artificial-intelligence and computing infrastructure, Bloomberg News reported on Thursday, citing sources. The potential deal would follow a US$4.66 billion bond issuance in June, its largest since 2020.
Tencent (0700) is weighing an offshore bond sale of up to US$5 billion as the Chinese technology giant steps up spending on artificial intelligence and computing infrastructure, Bloomberg News reported on Thursday, citing people familiar with the matter.
The bonds could be denominated in US dollars and offshore yuan, with a sale potentially taking place as early as this month, the report said. The move follows a US$4.66 billion bond offering in June, Tencent's largest debt deal since 2020, with proceeds used for general corporate purposes including AI development.
The potential fundraising comes as global technology companies increasingly tap debt markets to finance AI-related investments and infrastructure, even amid growing concerns about the sector's stability. Last month, Japan's SoftBank Group raised about US$11.1 billion through a corporate junk-bond offering to fund its AI plans.
Tencent did not immediately respond to a Reuters request for comment.