CXMT targets $8.55B in China's largest semiconductor IPO as crypto perpetual futures on Hyperliquid imply valuations above $500B before listing day.

China's leading memory chipmaker, CXMT, is set to debut on the Shanghai Stock Exchange on July 27 after launching a 29.5 billion yuan IPO, expected to be Asia's largest this year.

CXMT plans to raise 57.9 billion yuan ($8.55B) in Asia's largest 2026 IPO on Shanghai's STAR Market, fueled by 700% revenue growth from AI-driven DRAM

Listing comes as chipmakers accelerate investment amid global semiconductor shortage