A semiconductor substrate and a method of manufacturing the same are provided. The method includes epitaxially growing a buffer layer and a silicon carbide layer on a silicon surface of an N-type silicon carbide substrate, and the silicon carbide layer is high-resistivity silicon carbide or N-type silicon carbide (N—SiC). Next, a gallium nitride epitaxial layer is epitaxially grown on the silicon carbide layer to obtain a semiconductor structure composed of the buffer layer, the silicon carbide layer, and the gallium nitride epitaxial layer. After the epitaxial growth of the gallium nitride epitaxial layer, a laser is used to form a damaged layer in the semiconductor structure, and a chip carrier is bonded to the surface of the gallium nitride epitaxial layer, and then the N-type silicon carbide and the semiconductor structure are separated at the location of the damaged layer.