Fortune· 1d ago· 1 min read
Shares of CXMT, China's largest memory chipmaker, shot skyward Monday as they began trading in Shanghai in mainland China’s biggest initial public stock offering in recent years.
CXMT's shares surged 466% in their first day of trading. The company has become the most valuable one listed on a mainland Chinese exchange, with an estimated market capitalization of about 3.3 trillion yuan (more than $487 billion). But that's still smaller than those of South Korean and American memory chipmakers like Samsung Electronics , SK Hynix and Micron Technology .
CXMT, or ChangXin Memory Technologies, is among many chipmakers that have profited mightily from the boom in artificial intelligence. Its business is thriving as China pushes for greater self-sufficiency in leading edge technologies while contending with limited access to advanced chipmaking machines due to American-led restrictions .
The…
Continue reading at FortuneDiscussion
Be the first to comment.
Never miss a headline
Get breaking Nigerian and world news straight to your inbox.
Related Articles
Grifols H1 2026 slides: cash flow surges as IG drives growth
5m ago
Read More
EssilorLuxottica Q2 2026 slides: revenue up 8.7%, smart glasses surge
6m ago
Read MoreInnoviz Technologies stock tumbles 30% on share offering
8m ago
Read MoreNbt Bancorp stock hits all-time high at 53.41 USD
9m ago
Read More
Landis+Gyr Q1 FY26 slides: record 37.4% margin offsets revenue dip
10m ago
Read More
Landis+Gyr Q1 FY2026 slides: record margins offset revenue decline
11m ago
Read MoreLatest in Business
Earnings call transcript: Tata Capital posts strong Q1 2027 profit growth
Investing.com · 12m ago
Iran proposes traffic plan to reopen Hormuz that gives it greater control
Investing.com · 13m ago
Earnings call transcript: Grifols holds guidance as H1 2026 cash flow improves
Investing.com · 15m ago
Form 144 United Airlines Holdings For: 28 July
Investing.com · 15m ago
GSK heads to Cambridge with long-awaited positive vibes | Nils Pratley
The Guardian Business · 25m ago
The Erling Haaland boom: Norway’s ‘pop-up economy’ during the World Cup revealed in Visa data
Fortune · 28m ago
M6 H1 2026 slides: World Cup drives record audience, margins fall
Investing.com · 25m ago
U.S. Strategic Petroleum Reserve faces stress as emergency releases strain old infrastructure
CNBC · 26m ago
Most Read Today
FIFA president under fire after letter to Argentina FA leaked
Vanguard · 2d ago
‘Pretty bad’: Lewis Hamilton hits out at Ferrari after dropping points in F1 title race
The Guardian Sport · 2d ago
Troops rescue two kidnap victims in Taraba
Peoples Gazette · 2d ago
LeBron James officially joins 76ers on two-year contract | Report
Yahoo Sports · 2d ago
NNPCL’s N7.1tn question: Why transparency must follow the money
Vanguard · 5d ago
House Democrat calls for congressional hearings on Trump administration’s nuclear deal with Saudi Arabia – as it happened
The Guardian World · 6d ago
Gary Stevenson to quit YouTube channel, citing health concerns
The Guardian Business · 2d ago
US stocks face tests from Fed decision, tech-led earnings deluge
Investing.com · 2d ago