CXMT plans $4.2 billion Shanghai IPO to accelerate DRAM expansion
In December 2025, China’s leading memory chipmaker, ChangXin Memory Technologies (CXMT), revealed plans for a massive $4.2 billion initial public offering (IPO) in Shanghai. The move quickly drew global attention. DRAM chips sit at the heart of smartphones, data centers, and AI systems. They are also one of the toughest chips to make. For decades, this market has been controlled by just three global players. CXMT wants to change that balance.
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