Gaining control over the global supply of chips is becoming a central priority for Western governments trying to compete with China in the race to dominate the industry. Pandemic-related disruptions showed how a lack of semiconductors can negatively impact a vast number of industries. Now more than ever, securing a steady flow of chips is being placed atop geopolitical strategies worldwide. This is part of the reasoning behind a long list of sizable investments that governments are pouring on th
(Bloomberg) -- Superpowers led by the US and European Union have funneled nearly $81 billion toward cranking out the next generation of semiconductors, escalating a global showdown with China for chip supremacy.Most Read from BloombergChina Considers Government Buying of Unsold Homes to Save Property MarketSlovak Premier Is Fighting for Life After Assassination AttemptHow One of the World's Oldest Hedge Funds Went BankruptFlood of China Used Cooking Oil Spurs Call to Hike US LeviesOpenAI Chief S
BEIJING (Reuters) -SMIC, China's largest contract chipmaker, said first-quarter revenue surged by a fifth as both domestic and global customers rebuilt inventories, but expressed caution about the outlook for demand in the second half of the year. "Compared to the fourth quarter, our global customers were more willing to build up inventory...while in the domestic market, some customers managed to boost their market share and wanted to lock in orders to solidify their position," Co-CEO Zhao Haijun said during an earnings call on Friday. Zhao added, however, that the outlook was unclear and SMIC was monitoring whether its customers had overestimated demand for the second half.