CXMT — CHINA'S TOP MEMORY CHIPMAKER CXMT SURGES 466% IN SHANGHAI MARKET DEBUT

Shares of ChangXin Memory Technologies (CXMT), China's largest memory chipmaker, soared 466% in their Shanghai trading debut, becoming the most valuable company on a mainland exchange. The successful IPO, which raised at least $8.6 billion, was buoyed by surging demand for AI chips and Beijing's strategic push for semiconductor self-sufficiency amid US-led export controls. CXMT is now the world's fourth-largest DRAM maker by shipments.