Chipmaker Courted By Apple Soars On Market Debut And Briefly Becomes China’s Most Valuable Company
Headline from Forbes
CXMT is China’s biggest memory chipmaker and its debut comes amid an AI-driven demand boom that has boosted the stock price of its rivals Micron, Samsung and SK Hynix.
Forbes's own description from its feed. We collect headlines and these descriptions, not full articles; read the original reporting below.
China's leading memory chipmaker CXMT became the most valuable company in the mainland after soaring 500 percent on its market debut Monday, underscoring the impact of AI-driven demand on the semiconductor sector.
HONG KONG (AP) — Shares of CXMT, China’s largest memory chipmaker, soared Monday after they began trading in Shanghai in mainland China’s biggest initial public stock offering in recent years. CXMT is among many chipmakers that have profited mightily from the boom in artificial intelligence.
HONG KONG (AP) — Shares of CXMT, China’s largest memory chipmaker, soared Monday after they began trading in Shanghai in mainland China’s biggest initial public stock offering in recent years. CXMT’s shares surged 472% and were trading up 462% by early afternoon.
China's leading memory chipmaker CXMT became the most valuable company in the mainland after soaring more than 500 percent on its market debut Monday, underscoring how AI demand is boosting the semiconductor sector.
CXMT is China’s biggest memory chipmaker and its debut comes amid an AI-driven demand boom that has boosted the stock price of its rivals Micron, Samsung and SK Hynix.
Forget SpaceX: This Chinese chip stock is going to the moon. ChangXin Memory Technologies, or CXMT, recently went public on the Shanghai Stock Exchange’s tech-focused STAR Market (a China-based equivalent to the Nasdaq exchange), and has quickly shot up the charts.
