U.S. Export-Import Bank to consider financing for foreign AI purchases

The U.S. Export-Import Bank is expected to vote on a financing program for foreign purchases of American artificial intelligence tools later on May 21. The program would provide insurance and loan guarantees for medium-term transactions and direct loans and loan guarantees for long-term deals.

The Commerce Department would review licenses for sensitive AI technologies such as advanced chips before financing agreements are finalized.

Program details A one-page description of the program obtained by Reuters states that the initiative aims to modernize export financing tools and support the export of U.S. AI technologies. The board vote is scheduled for Thursday morning.

AI exports The plan follows an executive order signed last July.

It was not immediately clear which countries or companies would benefit from the financing. China’s DeepSeek released a free and open-source AI model last month for chips made by China’s Huawei. Some U.S. firms have accused DeepSeek of using their technology.

The previous administration had restricted access to advanced U.S. AI chips for China and certain other countries over concerns about military applications.