A Chinese state-backed financing entity has funded the purchase of restricted Nvidia (NASDAQ:NVDA) processors, underscoring Beijing's active role in maintaining access to advanced American technology despite strict export controls. Bloomberg News reported the findings, citing Chinese regulatory filings.

The financing came from Semi-Tech Leasing Group Co. and supported the purchase of more than 700 servers by AI infrastructure developer Glory View Technology Co. Filings with the People's Bank of China, cited by Bloomberg, show that at least one transaction explicitly funded 32 Asustek Computer Inc. servers powered by Nvidia's high-performance B300 Blackwell chips.

The documented batch of Blackwell-equipped servers is relatively small. Even so, the disclosure points to persistent gaps in Western trade restrictions designed to curb China's technological progress. Nvidia told Bloomberg it is investigating the matter with its equipment manufacturing partners. Asus reiterated its commitment to international export control regulations.

Semi-Tech Leasing was originally established with backing from China's national semiconductor fund. Municipal government entities in Shenzhen and Beijing now hold majority control. The lessor has deployed more than 11 billion yuan ($1.6 billion) into compute infrastructure, positioning itself as a core financing engine for national AI priorities.

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 majority of the procured hardware was slated for deployment at a major China Mobile Ltd. computing hub in Ningxia, a key node in China's state-backed data center network.

Following initial scrutiny, Semi-Tech Leasing resubmitted altered filings to Chinese credit registries. The revised documents removed specific hardware descriptions, supplier details, and server model designations. The selective redactions reflect ongoing efforts by domestic market participants to obscure the supply chains feeding China's rapid AI infrastructure buildout.