SMIC Raises Prices as AI Demand Drives Revenue Past $3 Billion
Semiconductor Manufacturing International Corporation (SMIC), China's leading chip foundry, reported second-quarter revenue of $3 billion for the first time. The company also raised prices for its most in-demand production capacity, driven by AI-related orders that pushed wafer shipments higher. This marks a significant milestone for SMIC, reflecting the robust demand for semiconductors in AI applications. The revenue increase and price adjustments indicate a strong market position for the company amid global chip supply dynamics.
Key facts
- SMIC reported second-quarter revenue of $3 billion for the first time.
- The company raised prices for its most in-demand production capacity.
- AI-driven orders pushed wafer shipments higher.
- SMIC is China's top chip foundry.
- The revenue milestone was reported in the second quarter.
Entities
Institutions
- Semiconductor Manufacturing International Corporation
Locations
- China
Sources
- Quartz —