What CXMT must do to grow global memory market share and build on its surge: analysts

ChangXin Memory Technologies (CXMT) could more than double from Monday's close as the Chinese chipmaker expands its global DRAM market share to 18% by 2028, according to Nomura, which set a price target of 116 yuan. CXMT shares surged 466% to close at 49 yuan on its debut, giving it a market cap of 3.28 trillion yuan (US$484.6 billion), larger than US chip giant Intel. Analysts say wafer expansion and AI demand could lift its DRAM share from about 10% now to 18% by end-2028, supported by monthly capacity growing from 280,000 12-inch wafers in 2025 to 550,000 by 2028.

What CXMT must do to grow global memory market share and build on its surge: analysts Company’s wafer expansion and AI demand could lift its DRAM share and more than double the stock’s value, analysts say Howard Liu /author/howard-liu in Beijing ChangXin Memory Technologies 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 CXMT could more than double from Monday’s close as the Chinese chipmaker expands its global dynamic random-access memory https://www.scmp.com/news/china/science/article/3361580/chinas-new-chip-stores-data-single-electron-breaking-ai-memory-bottleneck?module=inline&pgtype=article DRAM market share to 18 per cent by 2028, according to Nomura, which set a price target of 116 yuan. The listing of CXMT, the country’s top maker of DRAM chips, sparked investor momentum as its shares surged 466 per cent to close at 49 yuan. It has become the most valuable company listed on the mainland Chinese market. Its market cap of 3.28 trillion yuan US$484.6 billion is larger than US chip giant Intel, valued at about US$464 billion. Samsung Electronics https://www.scmp.com/business/companies/article/3352690/samsung-halts-all-home-appliance-sales-china-pivot-ai-accelerates?module=inline&pgtype=article and SK Hynix, and US firm Micron Technology https://www.scmp.com/tech/tech-war/article/3358301/us-chip-giant-micron-validates-growth-chinas-cxmt-and-ymtc-amid-tight-memory-market?module=inline&pgtype=article – CXMT could expand its global market share amid rapid capacity growth and rising demand for artificial intelligence computing power, analysts said. Nomura on Monday estimated its share of the global DRAM market could rise from about 10 per cent now to about 18 per cent by the end of 2028. That growth would be supported by monthly capacity expanding from 280,000 12-inch wafers in Hefei and Beijing at the end of 2025 to 350,000 by the end of 2026 and 550,000 by the end of 2028, with new lines added in Shanghai, it added.