Huawei Gets $2.3 Billion Offshore Loan as Chip Spending Soars
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4 Articles
Huawei Gets $2.3 Billion Offshore Loan as Chip Spending Soars
Huawei Technologies Co. has secured a 15 billion yuan ($2.25 billion) loan from Chinese banks, according to a person familiar with the matter, as spending on chips to power artificial intelligence related projects soars.
Chinese tech giant Huawei has secured a seven-year, $2.3 billion debt financing from a consortium of six domestic financial institutions, including the Bank of China and the Industrial and Commercial Bank of China. The capital will be used to accelerate research and development and expand production capacity for its Ascend family of advanced semiconductor chipsets, designed for artificial intelligence workloads.
Mario Romero.- In a strategic movement that redefines the balance of power in the global technology industry, Huawei has consolidated massive financial support of US$2,300 million through a seven-year loan granted by a consortium of six Chinese state banks, according to Bloomberg reports. The operation, which includes [...] The post Huawei obtains loan for US$2.3 billion from Chinese state banks to boost first-appeared chip business on TransMedi…
A loan of 15 billion yuan ($2.25 billion) was received from a group of Chinese banks, at a time when their expenditure on electronic chips for the development of artificial intelligence projects was increasing, according to well-informed sources of the Bloomberg Agency. Sources indicated that the loan was seven years old, with the participation of six Chinese banks, including the Bank of China, Cheena Constrection Bank and the I-Hawai post recei…
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