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Despite recent easing of export restrictions on Nvidia and AMD, Chinese chipmaker SMIC maintains that growing domestic demand is effectively replacing foreign rivals. SMIC has shown resilience amidst US-China trade tensions, with proposed 100% tariffs on chip imports having limited impact. The company reports mixed results for the second quarter of 2025, forecasting modest growth as stimulus boosts fade. SMIC also notes that more Chinese chip players are perfectly replacing foreign rivals.