SHANGHAI — China's leading memory chipmaker CXMT became the most valuable company in the mainland after soaring more than 500 percent on its market debut Monday, underscoring how AI demand is boosting the semiconductor sector. The race to build data centres that power artificial intelligence has fuelled a global memory chip shortage while causing business to boom for the companies that produce them. ChangXin Memory Technologies (CXMT) is the world's fourth-largest maker of DRAM memory chips, with around eight percent market share. It wants to rival Korea's Samsung Electronics and SK hynix, and U.S. giant Micron, companies that have also seen profits and share prices skyrocket in recent months. The firm's shares rocketed 530 percent Monday, taking its market capitalisation to 3.65 trillion yuan ($540 billion) — surpassing megabank ICBC as mainland China's most valuable company. The interest "reflects investors' overwhelmingly bullish sentiment toward China's flagship domestic memory chip firm", Larry Yang, chief economist of First Seafront Fund Management, told AFP. China's government i
What CXMT must do to grow global memory market share and build on its surge: analysts