Tencent is considering raising up to US$5 billion through an offshore bond sale as the Chinese technology giant steps up spending on artificial intelligence and computing infrastructure, Bloomberg News reported.
The proposed bonds could be denominated in US dollars and offshore yuan, with the sale potentially taking place this month, according to people familiar with the matter cited in the report.
The potential fundraising follows Tencent’s US$4.66 billion bond sale in June, its largest debt offering since 2020. Proceeds from that issuance were earmarked for general corporate purposes, including AI development.
Tencent’s latest move comes as technology companies globally increasingly turn to debt markets to finance AI-related investments and infrastructure despite growing concerns over the sustainability of the sector’s spending boom.
SoftBank Group raised about US$11.1 billion through a corporate junk-bond sale last month to fund its AI expansion plans.
Tencent did not immediately respond to a Reuters request for comment.
Reuters
