China's SMIC Reports Doubled Q3 Profit Driven by Strong AI-Related Demand

Semiconductor Manufacturing International Corporation (SMIC), China's largest contract chipmaker, announced a 123.4% increase in profit attributable to shareholders for Q3, reaching $428.4 million. This record revenue of $3.19 billion was primarily fueled by sustained demand for artificial intelligence-related semiconductors, highlighting AI's significant impact on the global chip supply chain and manufacturing capacity.