SMIC CEO Warns Against AI Data-Center Overbuild

Semiconductor Manufacturing International Corp. Co-CEO Zhao Haijun warned Wednesday on an analyst call that big tech is racing to overbuild AI data centers, per Bloomberg. Alphabet, Microsoft, Meta, and Amazon plan nearly $700 billion in AI spending this year and over $3 trillion over three years, raising risks of stranded capacity and obsolete AI chips as hardware depreciates in 2–6 years.