Business · 1h ago
CXMT Surges 470% in Debut, Becomes China's Most Valuable Listed Firm
CXMT, a Chinese chipmaker, saw its shares skyrocket 470% on its first trading day, making it the most valuable listed company in mainland China. The surge is fueled by the AI boom driving demand for memory chips. The company now has a market cap exceeding $200 billion.
Meridian48 take
The valuation reflects China's strategic push for semiconductor self-sufficiency, but the extreme volatility suggests speculative froth rather than fundamentals.
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Chipmaker CXMT becomes mainland China's most valuable listed firm →
BBC Technology
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