Huawei Secures $2.25 Billion Loan for AI Chip Spending

Huawei Technologies Co. secured a 15 billion yuan ($2.25 billion) offshore loan from six Chinese banks to support general corporate purposes. The seven-year loan is intended to fund increased spending on chips to power the company's artificial intelligence projects.

Participating lenders in the deal include Bank of China Ltd., China Construction Bank Corp., and Industrial & Commercial Bank of China Ltd. The financing comes as the technology company scales its investment in AI hardware infrastructure.