- CXMT's shares soared in a blockbuster share listing in Shanghai.
- CXMT's revenue surged to 50.8 billion yuan (US$7.5 billion) in the first three months of 2026, a more than 700 per cent rise year-on-year.
Shares of CXMT Corp, China’s largest memory chipmaker, surged 466% on their first day of trading in Shanghai, marking a significant milestone in the country’s IPO landscape.
The company raised at least $8.6 billion with its offering, priced at 8.66 yuan (US$1.30) per share, making it the second largest IPO in mainland China’s history, following the $22.1 billion share offering of Agricultural Bank of China in 2010.
CXMT's revenue skyrocketed to 50.8 billion yuan (US$7.5 billion) in the first quarter of 2026, driven by a remarkable 700% year-on-year increase due to surging demand from the AI sector.2
According to Counterpoint Research, CXMT was the world’s fourth largest DRAM memory chipmaker in 2025, capturing approximately 8% of the global market.
The company’s market share is projected to grow to 11% by 2028, reflecting the increasing importance of AI technologies in driving demand for memory chips.
This IPO not only highlights CXMT's rapid growth but also underscores the broader trend of technological advancement in China, particularly in the semiconductor industry.
“CXMT's revenue surged to 50.8 billion yuan (US$7.5 billion) in the first three months of 2026, driven by skyrocketing demand from the rapid rise of AI, marking a more than 700 per cent increase year-on-year. This strong financial performance underscores the growing importance of AI in the semiconductor industry.”
CP24
