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Chinese firm SMIC becomes the world’s second largest wafer foundry. Below excerpt and title of this post reported by Wu. J. (2024, May 11). Chinese firm SMIC becomes the world’s second largest wafer foundry. Tech Node 'Shanghai-based chip foundry Semiconductor Manufacturing International Corporation (SMIC) on Thursday unveiled its first quarter financial results, revealing that the state-owned company achieved a revenue of $1.75 billion, representing a 19.7% year-on-year increase. This result marks the first time that SMIC surpassed both United Microelectronics Corporation (UMC) and GlobalFoundries in quarterly revenue, with the two Taiwan-based firms reporting revenues of $1.71 billion and $1.549 billion respectively for the same period.' 'Amid US sanctions on Chinese chip development, SMIC’s growth signals China’s efforts to strengthen its domestic semiconductor capabilities and reduce reliance on foreign suppliers.' To read full article, click here Image by onlyyouqj on Freepik … Read more