Chinese chipmakers surge on AI demand and US sanctions

Chinese semiconductor firms reported record revenue in 2025 driven by AI demand, memory chip shortages, and US export restrictions. SMIC's revenue rose 16% to $9.3 billion, while analysts predict SMIC's 2026 revenue will top $11 billion. Companies, including SMIC, Hua Hong, and Moore Threads, expect further revenue surges this year, fueled by strong demand from domestic tech giants.