China's chip maker SMIC bags $2.2b investment from state investors

China's chip maker SMIC bags $2.2b investment from state investors

Photo by Alexandre Debiève on Unsplash

Shanghai-based chip maker Semiconductor Manufacturing International Corp has secured an investment worth $2.2 billion dollars from Chinese state investors, the company announced on Friday.

The funding was revealed on the same day that the United States announced new restrictions on Chinese tech company Huawei Technologies that would further impact its ability to source chips made with American technology.

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