Chinese technology firms are aggressively raising capital to bolster their AI capabilities and digital infrastructure. Alibaba is leading this trend, seeking $3.17 billion through zero-coupon convertible notes to expand data centres and international operations. Baidu recently raised 4.4 billion yuan, following a 10 billion yuan issuance in March. Tencent is also considering a public debt offering.
This fundraising wave highlights the intense competition within China's tech sector, particularly in cloud computing and AI. Companies are investing heavily in these areas, with Alibaba planning to spend $53 billion over three years on AI infrastructure. This positions them as major players alongside global giants like Amazon and Microsoft.
The capital is intended to scale data centres, upgrade technology, and broaden international commerce. Investors show strong interest in backing China's leading firms, despite a challenging economic backdrop. This financial activity reflects the ambitious growth plans of Chinese tech companies in the AI era.
