Chinese chipmaker soars 500% on debut
SHANGHAI – China’s leading memory chipmaker CXMT became the most valuable company in the mainland after soaring more than 500% on its market debut yesterday, underscoring how AI demand is boosting the semiconductor sector. The race to build data centres that power artificial intelligence has fuelled a global memory chip shortage while boosting business for... The post Chinese chipmaker soars 500% on debut appeared first on New Era .
SHANGHAI – China’s leading memory chipmaker CXMT became the most valuable company in the mainland after soaring more than 500% on its market debut yesterday, underscoring how AI demand is boosting the semiconductor sector.
The race to build data centres that power artificial intelligence has fuelled a global memory chip shortage while boosting business for the companies that produce them.
ChangXin Memory Technologies (CXMT) is the world’s fourth-largest maker of DRAM memory chips, with around 8% market share.
It wants to rival South Korea’s Samsung Electronics and SK hynix, and US giant Micron, companies that have also seen profits and share prices skyrocket in recent months.
