Semi-Tech Leasing Group, a lender controlled by municipal governments in Shenzhen and Beijing, provided funding for the acquisition of over 700 servers. The hardware includes Nvidia B300 chips, which are subject to US export restrictions.
The buyer, Glory View Technology, utilized sale-and-leaseback arrangements to secure more than ¥3 billion, or approximately $450 million, for its AI infrastructure. One specific contract involved 32 Asustek servers equipped with the restricted chips.
Semi-Tech maintains ties to China’s national semiconductor fund and has invested over ¥11 billion, or about $1.6 billion, into computing infrastructure. A significant portion of these funds supported a China Mobile data center hub in Ningxia.
Regulatory filings submitted in Beijing were subsequently altered to remove specific details regarding the hardware and suppliers involved in these transactions.
