Taiwan’s Foxconn has secured a US$1.1 billion loan over three years to support broad corporate activities, insiders report.

Seventeen banks, both local and international, are part of the lending consortium.

Borrowers include Foxconn Singapore Pte., Falcon Precision Trading Pte., and ECMMS Precision Singapore Pte., with Foxconn as guarantor.

Foxconn has yet to officially confirm the deal, but sources indicate an anticipated rise in demand for AI servers.