Reuters reported on 8 October, citing Bloomberg News, that Tencent is considering an offshore bond sale of up to $5 billion as it increases spending on AI and computing infrastructure. An early-October sale is possible, with debt denominated in offshore yuan and US dollars, according to people familiar with the matter cited in the Bloomberg report.
Tencent raised $4.66 billion in a bond offering in June, which Reuters described as its largest debt deal since 2020. The proceeds were for general corporate purposes, including AI development. AI Affairs previously reported, citing the Financial Times, that Tencent had signed an Oracle lease for about 100,000 AI chips.
Other technology companies are also borrowing to finance AI plans. SoftBank Group raised about $11.1 billion through a corporate junk-bond offering in September for its AI plans. Tencent did not immediately respond to Reuters’ request for comment.
