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SMIC plans billion-dollar investment in semiconductor factory

Chinese semiconductor manufacturer Semiconductor Manufacturing International Corporation (SMIC) plans to invest €1.95 billion in a new chip factory, Bloomberg reports. To this end, the company has entered into a joint venture with the city of Shenzhen, which will help finance the factory. Production is expected to start in 2022 and will include 28-nanometer semiconductor chips. This technology is quite old. TSMC of Taiwan already mass produces 5nm chips. 28nm chips are currently still used in car manufacturing, for example.

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