SMIC results show AI demand spreading across more of its business
Bernstein analysts say SMIC's third-quarter revenue increasingly comes from industrial and compute demand, while China's share of sales rose to 90.8%.
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what happened
Market Talk reports, citing a Bernstein research note, that SMIC's latest earnings show the AI-driven boost reaching a wider range of businesses. Revenue from consumer electronics and smartphones fell in the third quarter, while connectivity and Internet of Things, industrial and automotive contributions improved.
Analysts argue that growth now rests on industrial and compute-related demand rather than traditional consumer markets. China's share of revenue climbed further to 90.8%, which they say underlines the domestic character of the current cycle.
why it matters
For chip stocks, this shift suggests growth depends less on smartphone sales. The high share of China revenue also ties the cycle closely to efforts to localize supply chains at home.
market impact
Chinese chips: demand shifting toward industrial and computing uses, supportive for SMIC
tags
instruments
sources
- Latest SMIC Results Show AI Spillover Has Broadened — Market Talk, 13 November 2026 at 00:47 UTC
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