Tencent CEO just raised $1.27 billion at rock-bottom rates - here's why AI spending is slowing
Key Points
- Tencent raised $1.27 billion in the bond market with ultra-l...
Tencent just pulled off one of those "hold my green tea" moments in the bond market, raising 9 billion yuan ($1.27 billion) yesterday with interest rates so low they practically paid investors to take their money. We're talking 2.1% for 5 years, 2.5% for 10 years, and 3.1% for 30 years - rates that came in 50 basis points below what bankers initially suggested. Translation: investors were practically fighting each other to lend money to China's gaming and messaging giant.
But here's where it gets interesting. While Tencent was sweet-talking bond investors, they've been putting their AI spendi...
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