CXMT tops 4 trillion yuan as AI-fuelled memory rally lifts China’s chip champion

Shares of ChangXin Memory Technologies (CXMT), China's leading DRAM maker, jumped 12 per cent on Monday to close at a record 61.80 yuan (US$9.16), lifting its market capitalisation to 4.13 trillion yuan and extending its lead as China's most valuable listed company. The surge was driven by bullish signals from SanDisk, which forecast that AI-driven memory demand could keep supplies tight, with SSD shipments for AI data centres potentially reaching 1,200 exabytes in 2030.

CXMT tops 4 trillion yuan as AI-fuelled memory rally lifts China’s chip champion Shares jump 12 per cent to a record as bullish signals from SanDisk reinforce expectations that AI-driven memory demand will keep supplies tight Shares of ChangXin Memory Technologies CXMT , China’s leading DRAM maker, jumped 12 per cent on Monday to close at a record 61.80 yuan US$9.16 , lifting its market capitalisation to 4.13 trillion yuan and extending its lead as China’s most valuable listed company. surged 466 per cent https://www.scmp.com/tech/big-tech/article/3361926/chinas-cxmt-shares-rise-472-star-market-debut-valuing-dram-maker-us489-billion?module=inline&pgtype=article . Monday’s close left CXMT more than seven times above its 8.66 yuan initial public offering price. The latest jump appeared largely sector-driven. SanDisk shares surged nearly 30 per cent on Thursday and Friday after its investor day reinforced expectations that artificial intelligence AI demand could keep memory supplies tight, while Micron Technology also gained 6.7 per cent last Friday. SanDisk had reported strong quarterly results earlier this month. At its investor day last week, the NAND maker also forecast solid long-term growth and margins, further boosting confidence in the memory upcycle. Nomura said the investor day provided greater long-term visibility into the NAND market, pointing to SanDisk’s forecast that solid-state drive SSD shipments for AI data centres could reach 1,200 exabytes in 2030. An exabyte equals 1 million terabytes. Wall Street research firm Bernstein said the presentation made it more bullish on SanDisk, arguing that AI was shifting from a “compute-centric” to a more “memory-centric” architecture as larger models and longer context windows raise memory requirements. It also noted that SanDisk’s planned high-bandwidth flash technology could consume substantially more wafer capacity than conventional NAND, potentially keeping supplies tight for longer.