A multi-chip module has at least two semiconductor chips. Each of the semiconductor chips has chip electrodes of the semiconductor chip, electrically conductive interconnections for electrically connection with the chip electrodes, electrically conductive lands for electrically connection with the interconnections, external terminals placed on the lands, and a stress-relaxation layer intervening between the lands and the semiconductor chip. The semiconductor chips are placed on a mounting board via the external terminals. The stress-relaxation layer of a first semiconductor chip is thicker than the stress-relaxation layer of a second semiconductor chip having a distance from a center thereof to an external terminal positioned at an outermost end portion thereof smaller than that of the first semiconductor chip.