SMIC hits record $3.19B Q3 revenue at 97.3% utilization, but capex lags plan
zephyr_z9 · x · 2026-11-13
SMIC posted record Q3 revenue of $3.19B (+6.1% q/q, +33.9% y/y) with 29.9% gross margin and a 97.3% utilization rate, driven by AI-adjacent chips. FY26 revenue is expected to top $12B (+30% y/y). But analyst Stefan Kundojjala notes capex looks weak: SMIC planned $8.1B for 2026 and has spent only $4.5B so far — it needs to spend a lot more.
Related event: SMIC Posts Record $3.19B Q3 Revenue as Capex Lags Plan(2 posts)→
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