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takyon [soylentnews.org] writes:

+techonomics

SMIC – China's Largest Semiconductor Foundry – to Raise Around $6.55 Billion in Fresh Funding as the Company Leverages Its Enhanced Importance [wccftech.com]

SMIC, the operator of the largest semiconductor foundry in China, has adopted a pivotal role in the ongoing multi-faceted spat between the U.S. and China. The company has become the focal point of a concerted effort by Beijing to maintain a continuous supply of semiconductors to the local industry even as Washington tries to thwart this flow, as evidenced by the Trump administration's efforts to block silicon heavyweights around the globe from delivering semiconductor components to Huawei or its affiliate HiSilicon.

Nonetheless, SMIC appears ready to deploy its added heft in order to secure economic gains. As an illustration, in a filing [smics.com] with the Shanghai Stock Exchange on Sunday, the company revealed [reuters.com] that it will raise as much as 46.29 billion yuan or $6.55 billion by selling new shares on the exchange at a price of 27.46 yuan per share. Interestingly, the latest financing target is more than double the 20 billion yuan that SMIC originally sought to raise.

[...] As stated earlier, leading Chinese tech enterprise have been subjected to a relentless volley by Washington over the recent months as the multifaceted spat between the U.S. and China continues to escalate. Back in May, the U.S. banned [wccftech.com] the export of any semiconductor that incorporated American technology to Huawei or its affiliate, HiSilicon. Given these evolving dynamics, Huawei is now increasingly relying upon the silicon components sourced from SMIC for the wide range of its products.

See also: How much trouble is Huawei in? [cnn.com]
Intel resumes shipment to Chinese server maker Inspur [technode.com]
Huawei builds up 2-year reserve of 'most essential' US chips [archive.is]

Previously: China Lags Behind Other Countries in Semiconductor Manufacturing [soylentnews.org]
China's SMIC Produces its First "14nm" FinFET Chips [soylentnews.org]
Semiconductor Manufacturing International Corporation (SMIC) Starts "14nm" FinFET Volume Production [soylentnews.org]
How China Plans to Lead the Computer Chip Industry [soylentnews.org]
TSMC Dumps Huawei [soylentnews.org]

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