China's largest memory chipmaker sparks fears of a cash drain as it readies for public debut

China's largest memory chipmaker sparks fears of a cash drain as it readies for public debut

CXMT raises $8.6B in Shanghai STAR IPO July 27; valuation >1T yuan triggers massive fund reallocations in China's retail market. As China's dominant DRAM player, CXMT's growth reshapes global semiconductor supply chains and shifts leverage away from U.S.-Korean incumbents.