Changxin Memory Technologies becomes China's most valuable company

Changxin Memory Technologies (CXMT), a Chinese DRAM manufacturer, has become the most valuable company in China by market capitalization, surpassing internet giants such as Tencent and Alibaba.

Following its recent listing on the Shanghai STAR Market, CXMT's market value has surged, recently crossing the 4 trillion yuan mark. This rapid growth, representing an increase of nearly six times since its IPO, reflects a broader shift in investor interest from internet platforms toward hardware and semiconductor companies aligned with China's strategic focus on artificial intelligence and technological self-reliance.

The company's rise is supported by increasing demand for memory chips used in AI infrastructure. CXMT has secured significant DRAM supply agreements with major players like ByteDance and Tencent. Analysts note that the semiconductor sector is benefiting from a projected global memory shortage and the ongoing expansion of domestic computing power requirements.