Recent artificial intelligence related market stumbles have somewhat burst the bubble of infallibility around the sector, said Howard Marks, co-chair of Oaktree Capital Management LP.

African Export-Import Bank is planning a $1 billion syndicated loan that could include an offshore yuan tranche, according to people familiar with the matter, in what would be its first foray into the offshore renminbi market amid growing China-Africa trade ties.

Zhuhai Huafa Group Co., one of China’s biggest local-government owned conglomerates, was placed on rating watch negative by Fitch Ratings over heightened refinancing risks, a step that signals increased possibility of a downgrade.

A consortium led by Gaw Capital Partners is seeking to refinance a HK$14.4 billion ($1.8 billion) loan backed by a number of Hong Kong shopping centers, according to people familiar with the matter, as a recovery in the city’s retail sales remains uneven.

Lenovo Group Ltd. is seeking a $2 billion loan priced more cheaply than an earlier facility that it plans to refinance, according to people familiar with the matter, as banks in Asia remain eager to lend to major Chinese firms amid a dearth of deals.

The founder of a cloud computing company with a similar business model to CoreWeave Inc. said the 15% yield on the latter’s bonds is “insane,” compared with the roughly 3.45% rate his company secured on a recent Taiwan dollar loan.

The next wave of artificial intelligence debt financing is taking off in Asia.

Hong Kong is seeking to raise HK$15 billion to HK$20 billion ($1.9 billion to $2.6 billion) through a multi-currency digital green bond offering that would be the world’s largest of its kind, according to people familiar with the matter, as the city pushes to become a fixed-income hub.

GMI Cloud, a Nvidia Corp. partner, is seeking a $300 million loan to buy chips for its facility in Thailand, according to people familiar with the matter, adding to a growing list of similar deals in Asia.

The Hong Kong stock exchange is considering launching its first-ever bond index before the end of the year, according to people familiar with the matter, as the Asian financial center bets that the benchmark would boost trading activity in the world’s largest offshore yuan market.

Hong Kong’s ambitious plan to become a data center hub got off to a slow start.

ByteDance Ltd., the developer of TikTok, has signed a $29.6 billion loan with more than two dozens lenders, including Industrial and Commercial Bank of China Ltd. and HSBC Holdings Plc, in one of Asia’s biggest dollar-denominated deals this year.

Zankore, an Indonesian AI infrastructure platform backed by Nvidia Corp., signed a $3.1 billion loan deal on Wednesday to purchase advanced chips, underscoring surging demand for computing capacity across Asia.

Gaw Capital Partners has secured a HK$4.29 billion ($547 million) loan backed by its Regent Hong Kong hotel with lender commitments exceeding the target amount, underlining strong demand for prime hospitality assets despite weakness in the city’s broader commercial property market.

Chinese University of Hong Kong is seeking a bank loan of around HK$4 billion ($510 million) to refinance a facility supporting its private hospital, according to people familiar with the matter, as local universities increasingly turn to debt financing for major projects.

ByteDance Ltd., the developer of TikTok, has secured a $29.6 billion loan, according to people familiar with the matter, in Asia’s second-largest dollar-denominated borrowing this year.

GMI Cloud, an Nvidia Corp. partner, secured commitments for more than double the amount it was seeking in a loan backed by the sale of computing power from advanced chips, underscoring strong demand for one of the first such deals in Asia.

The billions of dollars being borrowed to fund data centers in Asia are pushing banks to their limits and making them more selective about which projects to finance, according to senior bankers at Barclays Plc.

SoftBank Group Corp. is seeking a $10 billion loan, as it looks for more funding to help refinance debt used for its investment in US tech giant OpenAI, according to people familiar with the matter.

Qatar National Bank is seeking a $2 billion syndicated loan, according to people familiar with the matter, in a test of whether banks, particularly from Asia, are willing to lend in the region as the US war with Iran drags on.