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Why China’s Tech Giants Have Gone on an AI Fundraising Spree

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By Janice Huang and Edwin Chan

September 17, 2025 at 2:39 AM UTC

Companies in China’s technology sector have been raising billions in capital to advance their artificial intelligence capabilities and other digital infrastructure.

Alibaba Group Holding Ltd., Tencent Holdings Ltd. and Baidu Inc. have led the flurry of bond issuances, procuring more than $5 billion in September alone.