Why Tencent is swapping Bilibili equity for debt, and what AI has to do with it
Tencent Holdingsโ pivot from a core shareholder to a major creditor in Bilibili offers a clear window into how Chinaโs Big Tech players are rebalancing portfolio risk while funding expensive artificial intelligence initiatives. The shift, executed through Bilibiliโs proposed US$700 million convertible bond package announced on Friday, allows Tencent to lock in capital flexibility without severing ties with one of Chinaโs largest online video platforms, according to analysts. Here is a look at...