Kuaishou seeks $2b in offshore bond sale to fund AI push

Chinese technology heavyweight Kuaishou Technology is raising about $2 billion through its first offshore dual-currency bond issuance, as it looks to tap overseas capital markets to support its intensified artificial intelligence development.

The company announced on Friday that it will issue $600 million of 4.125 percent senior notes due in 2031, $900 million of 4.75 percent senior notes due in 2036, and 3.5 billion yuan ($490 million) of 2.450 percent senior notes due in 2031.

Proceeds from the proposed bond issuance will be mainly used for general corporate purposes and to increase offshore cash reserves, a company representative said during an investor conference call on Wednesday.

The company has previously disclosed that its total capital expenditure in 2025 is expected to exceed 14 billion yuan, with a significant portion designated for its artificial intelligence platform, Kling.

Kuaishou said it plans to maintain a similar capital expenditure allocation structure this year, underscoring its continued focus on AI-driven growth.