Semiconductor Manufacturing International (SMIC), China’s largest chip maker, will use a US$300 million loan to expand its production capacity, the company said.SMIC received the five-year loan from a consortium of Chinese banks led by China Construction Bank. The funds will be used to expand production capacity at SMIC’s 200-millimeter (8-inch) factory in Tianjin, in northeastern China.The company did not offer details of its expansion plans for the Tianjin plant, which uses 200-millimeter silicon wafers to produce chips using manufacturing processes capable of making features as small as 150 nanometers.SMIC, which also operates chip-making plants in Shanghai and Beijing, plans to spend US$1.1 billion on capital expenditures this year. SMIC has struggled financially in recent quarters, hurt by its reliance on revenue from dynamic RAM production. In an effort to return to profitability, the company has tried to expand its production of other products, which are more profitable to produce. Executives have said they expect to return to profitability by the third quarter of this year.-Sumner Lemon, IDG News Service Check out our CIO News Alerts and Tech Informer pages for more updated news coverage. Related content brandpost Sponsored by G42 Understanding the impact of AI on society, environment and economy By Jane Chan Dec 03, 2023 4 mins Artificial Intelligence opinion Website spoofing: risks, threats, and mitigation strategies for CIOs In this article, we take a look at how CIOs can tackle website spoofing attacks and the best ways to prevent them. By Yash Mehta Dec 01, 2023 5 mins CIO Cyberattacks Security brandpost Sponsored by Catchpoint Systems Inc. Gain full visibility across the Internet Stack with IPM (Internet Performance Monitoring) Today’s IT systems have more points of failure than ever before. Internet Performance Monitoring provides visibility over external networks and services to mitigate outages. By Neal Weinberg Dec 01, 2023 3 mins IT Operations brandpost Sponsored by Zscaler How customers can save money during periods of economic uncertainty Now is the time to overcome the challenges of perimeter-based architectures and reduce costs with zero trust. By Zscaler Dec 01, 2023 4 mins Security Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe