China’s largest chipmaker is boosting spending on plants and equipment this year while warning that geopolitical tensions and supply chain adjustments are stoking a global glut in semiconductors.
Semiconductor Manufacturing International Corporation on Friday raised its capital expenditure budget for 2023 by 18 per cent to $7.5bn, citing the need for production expansion and new plants.
SMIC said it had authorised equipment providers to ship in advance in order to secure supplies for its new factories in the face of “increasingly complex” geopolitical tensions.
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