US-Based Firm Seeks Loan for Nvidia Chips for Use by Xiaohongshu

A US-based artificial intelligence firm is seeking a loan of about $300 million to help fund the purchase of advanced Nvidia Corp. chips for use in Japan by a Chinese client, according to people familiar with the matter, a rare case of financiers being tapped to support such deals.

PaleBlueDot AI, based in Silicon Valley, has approached banks and private credit firms for the financing, the people said, asking not to be identified discussing private matters. JPMorgan Chase & Co. has been involved in preparing marketing materials for potential lenders, they added, though it’s possible the bank will ultimately refrain from taking a role on the deal.