Chinese chipmaker shares surge 470% in blockbuster stock market debut
Summary
CXMT, China's largest memory-chip maker, surged over 470% on its Shanghai Star Market debut, valuing the company at about 3.3 trillion yuan. The IPO proceeds are planned to boost production and R&D, amid a global tech sell-off and strong domestic demand for chips as China pursues tech self-reliance. The piece highlights DRAM's role in AI data centers and notes dominant players in the global DRAM market.