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The drive behind Uber and Didi’s odd billions

Two ride-hailing giants are bringing in billions of dollars from untraditional sources, part of a growing global rivalry that will be fueled by the cash.

Uber Technologies Inc. is reportedly raising up to $7 billion, according to The Wall Street Journal, while its competitor in China, Didi Chuxing, just raised $7.3 billion. Uber’s reported round includes a leveraged debt round of up to $2 billion, and a $3.5 billion stake from the investment arm of Saudi Arabia, The Wall Street Journal reported, citing sources familiar with the matter. Didi Chuxing brought in $1 billion from Apple Inc. AAPL, -0.12% and received a syndicated loan from China Merchants Bank, among other sources.

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