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Over a hundred TSMC engineers have been poached by Chinese chip makers

Quanxin Integrated Circuit Manufacturing (QXIC) was founded in 2019, while Wuhan Hongxin Semiconductor Manufacturing Co. (HSMC) was founded in 2017. Neither are producing competitive products yet, but both have received several billion dollars from the state to accelerate their development. They’re also both led by former TSMC executives.

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