Tencent Holdings Ltd. is considering an offshore bond sale of as much as $5 billion, according to people familiar with the matter, as the company ramps up spending on artificial intelligence. The notes could be denominated in dollars and offshore yuan, and the sale may come as early as this month, the people said. The move follows Tencent's June offering of long-dated dollar and yuan securities, which raised nearly $4.7 billion in its largest debt offering since 2020, with proceeds mainly for debt refinancing and general corporate purposes including AI products and services. Tencent has around $22 billion of offshore notes outstanding and no public bonds maturing this year, and it raised capital expenditures on AI projects and computing by 176% to 52.8 billion yuan, or $7.9 billion, in the June quarter. The potential sale adds to a global AI fundraising rush that has already topped $575 billion in 2026, according to Goldman Sachs credit strategists, and follows SoftBank Group Corp.'s $11.1 billion junk-bond offering last month. Tencent did not respond to a request for comment.
Tencent Holdings LtdTencent is weighing an offshore bond sale of up to $5 billion to fund its AI spending push.
SoftBank Group Corp.
Tencent Holdings LimitedTencent is considering an offshore bond sale of as much as $5 billion to ramp up AI investment.
