CXMT Market Cap Surges 4% to $540.5B, Trailing Only Intel

Chinese DRAM maker CXMT hits $540.5B valuation, surpassing Tencent and nearing Intel. The stock follows a massive 466% IPO debut, cementing its status as mainland China's most valuable listed firm.

Woofun AI reports that CXMT, China's leading DRAM memory chip manufacturer, saw its market capitalization climb 4% during Friday's midday trading to reach $540.5 billion. This valuation positions the company immediately behind Intel's $552.6 billion and ahead of Tencent's $505.8 billion, securing the 24th spot on LSEG's global ranking of most valuable companies.

Headquartered in Anhui Province, CXMT finalized an $8.6 billion IPO on July 27, with shares closing 466% above the issue price on the first day of listing. This performance established it as the most valuable listed entity in mainland China. While Intel's shares declined and Tencent fell approximately 26% year-to-date, CXMT remains the world's fourth-largest DRAM producer. Nomura projects its global production share could grow from roughly 10% to 18% by late 2028, while Bernstein analysts note the IPO proceeds will support increased capital expenditures.