Chip Maker CXMT Becomes China's Most Valuable Company at $524 Billion
Chinese memory chip maker CXMT has become the most valuable company in China by market capitalization, surpassing Tencent. The surge is driven by high demand for AI chips and China's push for semiconductor self-sufficiency. CXMT's market value reached $524 billion following its IPO on the STAR Market.
CXMT, a Chinese memory chip manufacturer, has become the most valuable company in China with a market capitalization of $524 billion as of trading on August 12, surpassing Tencent's $510 billion. The company's stock rose nearly 466% on its debut on the Shanghai STAR Market on July 27, 2026, from 8.66 to 49 yuan, raising 57.92 billion yuan ($8.6 billion). In Q1 2026, CXMT reported an operating profit of 35.43 billion yuan, a sharp turnaround from an operating loss of 2.83 billion yuan a year earlier. The growth is attributed to rising global demand for AI computing power and China's efforts to develop domestic semiconductor production and reduce reliance on foreign technologies.
- Abbreviations
- IPO = Initial Public Offering — первичное публичное размещение акций
Source: Rusbase (RB.RU) —
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