Chinese memory maker CXMT debuts with $484 billion valuation in stock market surge
CXMT shares soared 466% on its first day of trading on the Shanghai stock exchange, giving the Chinese memory firm a $484 billion market capitalization.
ChangXin Memory Technologies (CXMT), a Chinese memory chip company, had a spectacular debut on the Shanghai stock exchange on Monday, with its shares surging 466% on the first day, according to reports from The Wall Street Journal and CNBC. The frenzy pushed CXMT's valuation to $484 billion, making it the most valuable Chinese company listed on the exchange.
CXMT aims to challenge the dominance of Samsung, Micron, and SK Hynix, which together control the majority of the global memory market. The memory industry is under strain from soaring demand by data-hungry AI companies, prompting device makers to seek alternative suppliers to keep costs low.
A Financial Times report revealed that Apple has asked the Trump administration for permission to purchase CXMT memory, which is blacklisted by the Pentagon. Meanwhile, Gigabyte has announced support for CXMT RAM in some of its motherboards, and Dell, HP, Lenovo, and Asus are reportedly exploring CXMT's products.
Founded in 2016, CXMT unveiled its first DDR5 RAM products last year, though they remain roughly one generation behind the top chips from Samsung, SK Hynix, and Micron, according to the South China Morning Post. As of June 2026, CXMT held an 8% share of the global RAM market, per Counterpoint Research.
