Woofun AI reports that Chinese memory chip manufacturer CXMT has executed a long-term supply contract with Tencent Holdings, valuing the agreement at more than 20 billion yuan (approximately $2.94 billion). This strategic partnership was established before CXMT's expected initial public offering.

The deal mandates the provision of server DRAM chips over an extended period. While some sources indicate a three-year term, others suggest the contract may extend up to five years.