Asia-Pacific

The company's semiconductor division is expanding rapidly in an effort to compete with the likes of Intel and TSMC.

“Global telecom companies are struggling to change, and that’s why their shares are discounted,” says CEO Ku Hyeon-mo.

The growing war chest underscores Huawei’s do-or-die effort to develop chips, networking gear and even smartphones free of American technology.

Potential suitors include GDS Holdings and EdgeConneX, sources told Bloomberg.

The fresh capital will help it expand into new markets and deepen its presence in the countries it operates in.

The incentives were announced amid a prediction that a global chip shortage is likely to extend until early 2023.

Looking to offload some of the strain on the country's mega-cities.