Chinese lender Semi-Tech Leasing Group, majority-controlled by municipal governments in Shenzhen and Beijing and linked to China’s national semiconductor fund, financed the acquisition of more than 700 servers by Glory View Technology. These servers contained Nvidia Blackwell-series B300 chips, which are subject to US export restrictions. Through sale-and-leaseback arrangements, Glory View raised more than 3 billion yuan, approximately 450 million dollars, to build out its AI infrastructure. Semi-Tech has invested a total of over 11 billion yuan, about 1.6 billion dollars, in computing infrastructure, with most of that funding flowing toward a major China Mobile data center hub in Ningxia.
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