TAIPEI -- China's top chipmaker, Semiconductor Manufacturing International Corp. (SMIC), has raised its capital expenditure budget for 2023 to $7.5 billion amid escalating U.S.-China tensions, despite posting an 80% decline in net profit for the July to September quarter.
Semiconductors
China chipmaker SMIC hikes capex to $7.5bn despite profit slump
Spending rise for 2023 comes as Washington tightens export rules
SMIC is ramping up capital expenditure despite a slump in profit as tensions between China and the U.S. continue. © Reuters
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