5 hours ago
- ChangXin Memory Technologies (CXMT) shares surged over 470% on their Shanghai Stock Exchange Star Market debut.
- The surge pushed CXMT's market valuation to around 3.3 trillion yuan ($487.3 billion), making it mainland China's most valuable listed company.
- CXMT produces DRAM chips used in AI data centers, mobile phones, PCs, and other devices.
- Only 7% of CXMT's shares are available for trading, contributing to the extreme price jump due to high demand and limited supply.
- The IPO's success reflects Chinese investors' appetite for homegrown chipmakers amid Beijing's push for tech self-reliance.
- Global DRAM market is dominated by Samsung, SK Hynix, and Micron, which together hold about 90% of production.