Construction is reportedly expanding at a rapid pace in China’s ChangXin Memory Technologies (CXMT) in Hefei as the state-backed chipmaker gains global attention amid the race for memory chips.
Apple Inc. (NASDAQ:AAPL) has also begun testing CXMT’s DRAM chips for devices sold in China, while U.S. tech companies are lobbying Washington to allow broader use of their products, as per previous reports.
After years of heavy losses, CXMT has become a cornerstone of China’s AI chip ambitions and is poised to rank among the most profitable technology companies to go public on China’s domestic stock market, reported the Financial Times on Wednesday.
U.S. tech companies see China’s CXMT as a potential fourth global DRAM supplier amid tight chip supply, but the move remains politically sensitive.
Since CXMT is not on the U.S. Entity List, it can still purchase China-approved ASML equipment. The partnership is symbolized by a “friendship garden” established at CXMT’s headquarters in 2024.
