CXMT becomes China's most valuable listed company after $8.6B IPO
ChangXin Memory Technologies (CXMT), China's leading DRAM chipmaker, just made a splash on the Shanghai Stock Exchange.
Its shares jumped more than 500%, pushing its value past $539 billion, making it the most valuable listed company in China, even ahead of the country's biggest bank.
The IPO raised $8.6 billion, marking the largest in Asia this year and showing big support for China's push to build up its own tech industry.
State-backed CXMT to ramp up production
With this massive cash boost, CXMT plans to ramp up production and invest in new tech.
Backed by major state investors like the "Big Fund," the company aims to help China rely less on foreign chips, especially important as US export controls get stricter.
While CXMT is already a global player (held a 7.7% market share in 2025), it still faces tough competition from giants like Samsung and Micron when it comes to advanced memory technology.