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SMIC to build $8.87bn Shanghai chip plant in challenge to TSMC

Chinese contract chipmaker looks to meet demand for lower-end semiconductors

SMIC's planned Shanghai plant will make older-generation chips that are currently in short supply for everything from consumer electronics to self-driving cars.   © AP

TAIPEI -- China's top chipmaker said on Friday that it will build a nearly $9 billion chip plant in Shanghai, challenging global leader Taiwan Semiconductor Manufacturing Co. amid an industrywide rush to expand capacity.

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