Chinese state-backed lender financed Nvidia B300 servers, Bloomberg reports
In brief
- Semi-Tech Leasing funded more than 700 servers for Glory View Technology, per Bloomberg.
- At least one contract covered 32 Asustek servers using US export-controlled Nvidia B300 chips.
- Glory View raised over 3 billion yuan (about $450 million) via sale-and-leaseback deals.
- Later Beijing filings were changed to remove hardware and supplier details, Bloomberg said.
- LeoDex News couldn't independently verify the report; no company responses were included.
How the deals were structured
Bloomberg's reporting, as summarized by Crypto Briefing, says Semi-Tech's funding covered more than 700 servers for Glory View. At least one of those deals involved a contract for 32 Asustek servers equipped with B300 chips (part of Nvidia's Blackwell series, which falls under US export controls). Through the sale-and-leaseback structure, Glory View raised more than 3 billion yuan, or about $450 million, to build out its AI infrastructure, per Bloomberg.
Bloomberg also reported that later filings submitted to regulators in Beijing were changed to remove certain hardware details and supplier information.
LeoDex News couldn't independently verify any of the financing details. The source doesn't include a response from Semi-Tech, Glory View, Asustek or Nvidia. This article doesn't suggest any of them broke export rules; it's the B300 itself that's covered by US restrictions.
Who's behind Semi-Tech
Semi-Tech is majority-controlled by the Shenzhen and Beijing city governments, and it has ties to China's national semiconductor fund (the state's main vehicle for its domestic chip ambitions). According to Bloomberg, the lender has put more than 11 billion yuan, roughly $1.6 billion, into computing infrastructure. Most of that money went to a major China Mobile data center hub in Ningxia.
What it means for enforcement
Crypto Briefing notes that US export rules on advanced AI chips were designed to keep the most powerful hardware away from Chinese buyers and slow China's AI progress. Its analysis adds that enforcement typically focuses on two things: the physical movement of chips and the companies that ship them.
The outlet argues the Semi-Tech case adds another layer. You've got state-backed money, servers from a hardware maker and restricted chips inside, all in one structure. Its analysis says that if government-linked lenders can finance restricted hardware, enforcement may need to look at balance sheets as well as shipping manifests.
That's the outlet's read of the situation, not a conclusion LeoDex News has drawn.
