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China's SiCarrier Seeks $2.8 Billion to Boost Domestic Chipmaking Tools

The Huawei-linked startup aims to expand its ambitious product lineup as China's semiconductor self-sufficiency efforts accelerate under U.S. export restrictions.

Visitors walk past the SiCarrier booth during SEMICON China, a trade fair for the semiconductor industry, in Shanghai, China March 26, 2025. REUTERS/Che Pan/File Photo
A Chinese flag is displayed next to a "Made in China" sign seen on a printed circuit board with semiconductor chips, in this illustration picture taken February 17, 2023. REUTERS/Florence Lo/Illustration
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Overview

  • SiCarrier, owned by the Shenzhen government, is raising $2.8 billion at an 80 billion yuan valuation to fund R&D for its chipmaking equipment lineup.
  • The startup plans to offer a comprehensive range of tools, from wafer measurement devices to deposition systems, though most products remain under development.
  • U.S. export controls on advanced semiconductor tools have driven China's push for self-reliance, with domestic equipment share rising from 5.1% in 2020 to 11.3% in 2024.
  • SiCarrier faces technical and validation challenges, with skepticism over its ability to compete with global leaders like ASML and meet sub-7 nm manufacturing needs.
  • Established Chinese firms Naura and AMEC have seen rapid revenue growth, but China's self-sufficiency in advanced chipmaking tools remains below 10%.