CXMT Jumps 465% in $8.6 Billion Shanghai Debut as AI Boom Lifts DRAM Demand
Updated
Updated · Nikkei Asia · Jul 27
CXMT Jumps 465% in $8.6 Billion Shanghai Debut as AI Boom Lifts DRAM Demand
3 articles · Updated · Nikkei Asia · Jul 27
Summary
CXMT soared 465% in its Shanghai STAR Market debut after raising at least 57.9 billion yuan ($8.6 billion) in Asia’s biggest IPO this year.
AI-driven demand for memory chips helped power the listing, lifting the state-backed DRAM maker despite investor concerns over its valuation.
The first-day surge pushed CXMT’s market value above Intel’s and briefly made it China’s most valuable listed company, according to earlier reports.
CXMT is China’s largest memory-chip producer and the world’s fourth-largest DRAM maker, making the blockbuster listing a marker of Beijing’s semiconductor ambitions.