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Mon, 27 Jul 2026

Mon, 27 Jul 2026 Chipmaker CXMT becomes mainland China's most valuable listed firm

The company's shares soared by 470% in its market debut, as the AI boom drives chip demand.

* China's biggest memory chip maker, CXMT, has seen its shares surge by over 470% on its debut on the Shanghai Stock Exchange's tech-heavy STAR Market.
* The company's market valuation is now around 3.3 trillion yuan ($487.3bn; £364.9bn), making it the most valuable listed company in mainland China.
* CXMT plans to use the proceeds from its initial public offering (IPO) to boost production of memory chips and carry out research and developments.
* The strong performance of CXMT's IPO is seen as a positive sign for Chinese financial officials, who have been rolling out measures to help curb a stock market slump that wiped out over $1.5tn in recent weeks.
* China dominates the global Dram market, with South Korean tech giants Samsung Electronics and SK Hynix, and US-based Micron accounting for around 90% of production.
* In related news, SK Hynix raised $26.5bn (£19.8bn) in its New York share offering earlier this month, but its shares have since given up some of their gains.