SMIC Reports Significant Net Profit Surge and Increased Production Capacity Driven by AI Demand

Semiconductor Manufacturing International Corporation (SMIC), China's leading foundry, announced a substantial increase in its second-quarter net profit, surging by 261.7% year-on-year to $479.2 million. The company also reported an increase in its monthly production capacity to 1,096,500 wafers, attributing this growth to strong demand related to artificial intelligence. SMIC's management expects revenue to rise further in the third quarter.