IPOState-backed DRAM supplier rides AI boom to record IPO despite valuation concernsChipmaker CXMT's held a record IPO on the Shanghai STAR Market with its landmark share sale on July 27. © ReutersWATARU SUZUKIJuly 27, 2026 10:43 JSTUpdated on July 27, 2026 17:06 JSTSHANGHAI -- Chinese memory chip maker CXMT jumped in its stock market debut on Monday, after raising at least 57.9 billion yuan ($8.6 billion) in Asia's largest initial public offering so far this year.
China's CXMT jumps 465% on debut, tops Intel's market cap
State-backed DRAM supplier rides AI boom to record IPO despite valuation concerns
TL;DRAI
CXMT, China's state-backed DRAM supplier, raised $8.6B in Asia's largest IPO 2026 and jumped 465% on July 27 debut. The surge reflects global demand for AI memory infrastructure and Chinese control of critical supply amid intensifying geopolitical tensions.
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