China's CXMT eyes $4.2 billion Shanghai listing to fund DRAM expansion
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China’s leading DRAM chip maker, ChangXin Memory Technologies (CXMT), plans to raise $4.22 billion through an IPO in Shanghai to fund production upgrades and R&D. Founded in 2016, CXMT aims to compete with major players like Samsung and Micron, holding a 4% global market share. The company expects significant revenue growth and potential profitability by 2026, despite previous losses. It is also investing in high-bandwidth memory technology, with production expected to start by the end of 2026.
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