Chinese chipmaker CXMT soars 500% on debut as AI fuels shortages - The Korea Times

This photo shows the logo of ChangXin Memory Technologies (CXMT) at an entrance to the factory on the outskirts of Beijing, July 27. AFP-Yonhap

SHANGHAI — China's leading memory chipmaker CXMT became the most valuable company in the mainland after soaring more than 500 percent on its market debut Monday, underscoring how AI demand is boosting the semiconductor sector.

The race to build data centres that power artificial intelligence has fuelled a global memory chip shortage while causing business to boom for the companies that produce them.

ChangXin Memory Technologies (CXMT) is the world's fourth-largest maker of DRAM memory chips, with around eight percent market share.

It wants to rival Korea's Samsung Electronics and SK hynix, and U.S. giant Micron, companies that have also seen profits and share prices skyrocket in recent months.