On Friday, Chinese semiconductor foundry behemoth SMIC announced that the sustained demand for artificial intelligence (AI) would continue to bolster its capacity orders. Consequently, the company has decided to raise prices for its most in-demand production capabilities. Propelled by robust market demand, SMIC's revenue in the second quarter surpassed $3 billion for the first time, with several key financial metrics outperforming analysts' projections from the London Stock Exchange Group.

In the second quarter, SMIC witnessed a 20% sequential increase in revenue, with its gross margin improving to 25.3% and capacity utilization hitting 93.7%. Looking ahead, the company anticipates its revenue to maintain growth momentum, with an expected increase of 2% to 4% in the third quarter, and the gross margin is projected to rise to between 26% and 28%.