Chinese RAM company CXMT makes a $484 billion stock market debut

<figure> <img alt="The entrance to the ChangXin Memory Technologies (CXMT) factory in Beijing." data-caption="" data-portal-copyright="Photo by Pedro Pardo / AFP via Getty Images" data-has-syndication-rights="1" src="https://platform.theverge.com/wp-content/uploads/sites/2/2026/07/gettyimages-2287186358.jpg?quality=90&#038;strip=all&#038;crop=0,0,100,100" /> <figcaption> </figcaption> </figure> <p class="wp-block-paragraph">The China-based memory firm ChangXin Memory Technologies (CXMT) had a massive first day on the Shanghai stock exchange after its shares surged 466 percent, <a href="https://www.wsj.com/tech/cxmts-strong-debut-boosts-chinas-bid-to-conquer-memory-chips-21e0e9f4">as reported earlier by <em>The Wall Street Journal</em></a> and <a href="https://www.cnbc.com/2026/07/27/cxmt-china-market-debut-chipmaker-ipo.html">CNBC</a>. The stock market frenzy boosted CXMT's valuation to $484 billion, making it the most valuable Chinese company listed on the exchange.</p> <p class="wp-block-paragraph">CXMT looks to challenge Samsung, Micron, and SK Hynix, which currently control the majority of the global memory market. But with demand from data-hungry AI giants <a href="https://www.theverge.com/tech/880812/ramageddon-ram-shortage-memory-crisis-price-2026-phones-laptops">straining the memory industry</a>, device makers are searching for alternatives to keep costs low.</p> <p class="wp-block-paragraph">A recent report from the <em>Financial Times</em> …</p> <p><a href="https://www.theverge.com/tech/971358/cxmt-china-ram-stock-market-debut">Read the full story at The Verge.</a></p>