China’s Biggest Chip IPO Creates a $500 Billion Rival for Micron as Apple Reportedly Tests CXMT Memory Ch

China’s premier semiconductor manufacturer, ChangXin Memory Technologies (CXMT), skyrocketed in its Shanghai stock market debut to surpass a $500 billion valuation.

The chipmaker has set its sights on industry leaders like U.S. listed Micron Technology Inc.

(NASDAQ:MU) as iPhone maker Apple Inc.

(NASDAQ:AAPL) reportedly began testing CMXT's memory chips for its domestic devices.

Closing the Technological Gap Founded in 2016, CXMT currently holds a 7.67% share of the global DRAM market as of late 2025, though analysts expect its footprint to expand to 10% by 2026.