- Chinese memory chipmaker CXMT surged 466% on its Shanghai stock market debut, reaching a valuation of 3.3 trillion yuan.
- China reportedly developed its own deep-ultraviolet lithography tools, breaking ASML's monopoly in the chip supply chain.
- Global AI-linked shares, especially chipmakers, dropped sharply, with South Korea's Kospi falling 11.5% and the Nasdaq entering correction territory, before rebounding on strong Amazon and Microsoft results.
- CXMT produces dynamic random-access memory (Dram) chips, not GPUs, so it is not a direct threat to Nvidia but could compete with memory chip makers like SK Hynix and Micron.