Huawei secures $2.25 billion loan as AI chip spending surges

Huawei Technologies has obtained a 15 billion yuan ($2.25 billion) loan from Chinese banks, according to a person familiar with the matter. The funding comes as spending on chips for AI-related projects soars.

• The loan totals 15 billion yuan, or about $2.25 billion
• Funding comes from Chinese banks
• Proceeds target rising AI chip purchases