On Nov. 13 at the Q3 earnings call, SMIC co-CEO Zhao Haijun said full-year sales are expected to exceed $12.0 bln, roughly 30% YoY. With total depreciation rising about 30% YoY, gross margin is forecast around 26%, up ~5 percentage points YoY. He warned global equipment supply remains tight, lead times have lengthened and some deliveries are uncertain; this should not stop this year’s expansion plans but may disturb full-year capex execution.

NVIDIA (NVDA.O): Interim CEO Kress said the company will remain focused on serving customers, partners, developers and shareholders.

On the 12th, Russian President Putin told a U.S. delegation including Jared Kushner and a U.S. envoy that Russia cannot accept foreign troops being stationed in Ukraine. He said such deployments would threaten Russian national security and would become legitimate targets for Russian forces. Putin added Russia has not closed the door to dialogue with Europe, blamed Europe for breaking off talks, and urged the U.S. and European states to coordinate — saying European governments must make clear whether they want peace or war.