Chinese RAM company CXMT makes a $484 billion stock market debut
Emma Roth is a news writer who covers the streaming wars, consumer tech, crypto, social media, and much more. Previously, she was a writer and editor at MUO.
The China-based memory firm ChangXin Memory Technologies (CXMT) had a massive first day on the Shanghai stock exchange after its shares surged 466 percent, as reported earlier by The Wall Street Journal and CNBC. The stock market frenzy boosted CXMT’s valuation to $484 billion, making it the most valuable Chinese company listed on the exchange.
CXMT looks to challenge Samsung, Micron, and SK Hynix, which currently control the majority of the global memory market. But with demand from data-hungry AI giants straining the memory industry, device makers are searching for alternatives to keep costs low.
A recent report from the Financial Times has suggested that Apple asked the Trump administrationfor permission to purchase CXMT memory, which the Pentagon has...
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