CXMT — Chinese chipmaker CXMT soars 466% in Shanghai debut, becomes largest onshore firm

CXMT, a leading Chinese memory chip manufacturer, saw its shares surge 466% in its Shanghai trading debut, reaching a market valuation of 3.3 trillion yuan ($484 billion). The blockbuster listing, which raised 66.6 billion yuan, makes it China's largest onshore-listed company by market capitalization. The debut highlights strong investor appetite for companies central to Beijing's semiconductor self-sufficiency goals, particularly in the AI sector.