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U.S. mulls blacklisting SMIC; Biofourmis raises $100m via SoftBank, others

September 7 · Issue #298 · View online
Asia AI News
Good morning,
Here’s your first Asia AI News for this week!
Lots of news to share from over the weekend. However, the biggest is probably the Reuters story confirming that the Trump administration is mulling whether to add China’s largest chipmaker to its trade blacklist.
SMIC, or Semiconductor Manufacturing International Corporation - which is “in complete shock” over the news - last year hitting more than $3 billion in revenue. 60% of its revenue comes from China (incl. Hong Kong), but 26% comes from the U.S. Meanwhile, SMIC uses U.S. equipment to make its processors, meaning that it’s also vulnerable to U.S. restrictions on sales to its customer Huawei.
SMIC lags behind its Taiwan rival TSMC China in technology, but nevertheless is a key player in government plans to ramp up ‘made in China’ chip production. In July, SMIC became the biggest IPO that mainland China has seen a decade. The IPO raised 46.28 billion yuan ($6.62 billion) on Shanghai Stock Exchange.
If Trump wants to inflict more damage on China’s tech industry, putting SMIC on the black list is surely one way accomplish this!
Scroll down for the SMIC story (near the end) and lots more.
Have a great week ahead!

Startup News
SoftBank leads $136m investment in health startup SoftBank leads $136m investment in health startup
Chinese 'corona-tech' startups raising big money
A Russian-born startup based in Singapore uses AI to penetrate the mysteries of human longevity
DB Schenker invests record-breaking €101 million into new automated warehouse
XYZ Robotics wants to free humans from menial labor inside warehouses
Robots help upgrade shopping malls
S. Korea's R&D budget spending to rise 12.3 pct next year
Smart Cities
S. Korea to set up 20 trillion-won fund for New Deal projects
Indian smart cities better equipped to manage emergency situations like Covid-19: Deloitte
IIT Roorkee inks MoU with NIUA for collaboration in building accessible, safe and inclusive Indian cities
Talent Wars
Singapore must remain open to global tech talent to create jobs and opportunities for citizens: Iswaran
Hyderabad among top cities for career in AI
AI-related jobs openings and searches have gone up: report
Trump administration weighs blacklisting China's chipmaker SMIC Trump administration weighs blacklisting China's chipmaker SMIC
US threat to target China’s biggest chip maker SMIC risks undermining drive to boost local tech sector
Banning Chinese nationals takes cold war to extremes
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About Carrington Malin
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