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Chinese State-Backed Firm Funded Purchase of Restricted Nvidia AI Chips, Report Says
Summary
A Chinese state-backed leasing company financed the purchase of servers containing restricted Nvidia B300 AI chips for an AI firm, according to regulatory filings, highlighting efforts to bypass U.S. export controls.
A Chinese state-backed financing entity funded the acquisition of servers containing restricted, high-performance NVIDIA Corporation (NASDAQ:NVDA) processors, according to a Bloomberg News report citing Chinese regulatory filings. The development underscores a direct effort by government-linked entities in China to secure advanced American technology despite strict U.S. export controls.
Details of the Transaction
The financing was provided by Semi-Tech Leasing Group Co. to support the purchase of more than 700 servers by AI infrastructure developer Glory View Technology Co. At least one transaction explicitly detailed the funding of 32 Asustek Computer Inc. servers powered by Nvidia’s high-performance B300 Blackwell chips, according to filings with the People's Bank of China cited in the report.
Under a series of sale-and-leaseback arrangements initiated in mid-2025, Glory View secured over 3 billion yuan ($450 million) to expand its data center capacity. The hardware was reportedly slated for deployment at a major China Mobile Ltd. computing hub in Ningxia, a key part of China's state-supported data center network.
Implications for Export Controls
While the documented number of Blackwell-equipped servers is relatively small, the involvement of a state-backed financier points to a coordinated strategy to circumvent Western trade restrictions designed to slow China's technological progress. The revelation exposes persistent challenges in the enforcement of U.S. export controls.
AdFollowing initial scrutiny, Semi-Tech Leasing reportedly resubmitted altered filings to Chinese credit registries that omitted specific hardware descriptions and supplier details. This move suggests a deliberate effort by domestic firms to obscure the supply chains feeding China's AI infrastructure buildout.
Company Responses and Background
Nvidia told Bloomberg that it is investigating the matter with its equipment manufacturing partners. Asus reiterated its commitment to complying with international export control regulations.
Semi-Tech Leasing, now predominantly controlled by municipal government entities in Shenzhen and Beijing, was originally established with support from China's national semiconductor fund. The lessor has deployed more than 11 billion yuan ($1.6 billion) into compute infrastructure, positioning itself as a key financial engine for the country's national AI priorities.
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