ChangXin Memory Technologies (CXMT), China’s leading producer of dynamic random access memory (DRAM) chips, plans to go public in Shanghai as early as the first quarter of 2026, seeking a valuation of up to 300 billion yuan ($42 billion), according to people familiar with the matter. The company aims to raise between 20 billion and 40 billion yuan, with a prospectus expected as soon as November.
CXMT is ramping up investment in high-bandwidth memory (HBM) chips used in advanced AI processors and plans to begin HBM3 mass production in 2026. The company’s expansion aligns with rising global demand for memory components powering smartphones, computers, and AI servers. [Reuters]
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