Chinese State-Backed Lessor Quietly Funded Purchase of Restricted Nvidia Blackwell Chips

A Chinese financing company controlled by municipal governments in Shenzhen and Beijing has funded the purchase of advanced Nvidia chips subject to U.S. export restrictions, according to regulatory filings obtained by Bloomberg—marking the most concrete evidence yet of state-backed efforts to circumvent American semiconductor controls. Semi-Tech Leasing Group Co., which has deployed more than $1.6 billion into compute infrastructure, provided financing to Glory View Technology Co. to acquire more than 700 servers, including at least 32 units equipped with Nvidia's B300 Blackwell processors. The Blackwell family represents Nvidia's most powerful AI computing platform and remains under strict U.S. export controls to prevent its sale to Chinese entities.