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Chinese memory chip maker CXMT debuted on the Shanghai stock exchange with shares surging 466%, reaching a $484 billion valuation amid global memory shortages driven by AI demand.
Chinese chipmaker CXMT's market capitalization surpassed that of Intel, marking a major shift in the semiconductor landscape.
Apple is seeking permission from the Trump administration to buy RAM chips from CXMT, a Chinese supplier blacklisted over ties to the People's Liberation Army, to alleviate rising memory costs that have driven Apple to raise product prices.
Chinese memory maker CXMT has started supplying DRAM to Corsair for its Vengeance DDR5 kits, potentially lowering consumer RAM prices amid shortages.
CXMT is aggressively expanding capacity. Its three 12-inch fabs now have a combined monthly capacity of nearly 300,000 wafers, accounting for close to 15% of global DRAM output. However, the localization rate of equipment is only about 45%, with heavy reliance on overseas suppliers in lithography, metrology and other areas, facing export control pressures such as the US MATCH Act.