Tencent mulls $5 billion bond sale to push AI ambitions, Bloomberg News reports

Oct 8 : Tencent is considering raising up to $5 billion via an offshore bond sale, Bloomberg News reported on Thursday, as the Chinese technology giant ramps up spending on AI and computing infrastructure in line with its peers.

• The bonds could be issued in US dollars and offshore yuan, with a sale potentially happening early this month, the report said, citing people familiar with the matter.

• The move follows Tencent's $4.66 billion bond offering in June, its largest debt deal since 2020.

• News of this potential fundraising comes as global tech companies tap debt markets to finance AI-related investments and infrastructure, despite growing concerns regarding the sector's stability.

• Last month, Japanese technology investment conglomerate SoftBank Group raised about $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.