Chinese RAM company CXMT makes a $484 billion stock market debut

The China-based memory firm ChangXin Memory Technologies (CXMT) had a massive first day on the Shanghai stock exchange after its shares surged 466 percent, as reported earlier by The Wall Street Journal and CNBC. The stock market frenzy boosted CXMT’s valuation to $484 billion, making it the most valuable Chinese company listed on the exchange.

CXMT looks to challenge Samsung, Micron, and SK Hynix, which currently control the majority of the global memory market. But with demand from data-hungry AI giants straining the memory industry, device makers are searching for alternatives to keep costs low.

A recent report from the Financial Times has suggested that Apple asked the Trump administration for permission to purchase CXMT memory, which the Pentagon has blacklisted. Gigabyte has also announced that it’s adding support for CXMT RAM in some of its motherboards, while reports suggest Dell, HP, Lenovo, and Asus are exploring its products as well.

SK Hynix had a similarly big debut on the US stock exchange earlier this month.

Founded in 2016, CXMT revealed its first DDR5 RAM products last year, though they currently remain “roughly one generation” behind the top chips from Samsung, SK Hynix, and Micron, the South China Morning Post reports. As of June 2026, CXMT held an 8 percent share in the global RAM market, according to Counterpoint Research.