China's largest memory chipmaker, ChangXin Memory Technologies (CXMT), is set to debut on the Shanghai Stock Exchange after raising $8.6 billion in Asia's biggest IPO this year, highlighting the success of China's state-backed push to build domestic semiconductor champions and AI infrastructure.

China's largest memory chipmaker, ChangXin Memory Technologies (CXMT), is set to debut on the Shanghai Stock Exchange after raising $8.6 billion in Asia's biggest IPO this year,…

Chipmaker CXMT's significant IPO showcases China's state-led funding model for strategic technology. Hefei city investors hold a substantial stake in the memory-chip maker. This…