Chinese RAM company CXMT makes a $484 billion stock market debut
The Verge Emma Roth
Chinese RAM manufacturer CXMT debuted on the Shanghai stock exchange with shares surging 466 percent on its first trading day. The company's valuation reached $484 billion, making it the most valuable Chinese-listed firm on the exchange. CXMT aims to compete with Samsung, Micron, and SK Hynix in global memory markets as AI demand pressures device makers to find cost-effective alternatives.
Why it matters
The China-based memory firm ChangXin Memory Technologies (CXMT) had a massive first day on the Shanghai stock exchange after its shares surged 466 percent, as reported earlier by The Wall Street Journal and CNBC. The stock market frenzy boosted CXMT's valuation to $484 billion, making it the most valuable Chinese company listed on the exchange. […]
