SMIC's Q3 Profit More Than Doubles, Driven by Strong AI-Related Demand

Semiconductor Manufacturing International Corporation (SMIC), China's largest contract chipmaker, reported record third-quarter revenue and a 123.4% increase in profit attributable to shareholders. Revenue reached $3.19 billion, up 33.9% year-over-year, with gross profit climbing 82.3%. The strong performance is attributed to sustained demand from artificial intelligence-related sectors, which is expected to keep AI-related semiconductor supply chains tight through 2027.