TenCent issues $5B AI funding bonds

Tencent Holdings has launched a issuance of foreign bonds worth up to $5 billion, aimed at financing its increasing investments in artificial intelligence. The bonds include maturities of 10 and 20 years with a guiding yield of approximately 115 and 140 basis points above U.S. Treasuries, respectively. Additionally, there are yuan-denominated bonds for 10 and 30 years at roughly 2.9% and 3.5% interest rates. This step comes amid a broad wave of funding led by major technology providers to develop advanced AI models. The company is also planning to increase its capital expenditure on AI by 176% in the last quarter, with potential annual spending exceeding 200 billion yuan by 2027, aiming to develop powerful models like "Hy4." This financing is part of Tencent's efforts to stay competitive and strengthen its capabilities in the global AI market.

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