Elite company: the firms that were China’s most valuable before CXMT

How did memory chipmaker CXMT become China’s most valuable stock? | Explained

CXMT surged 466% on Shanghai debut (July 27), becoming China's most valuable at $488 billion; 212x IPO oversubscription driven by memory scarcity. AI infrastructure's memory demand elevated DRAM to strategic asset; the surge signals China's push for chip independence from US export controls.