Changxin Memory Market Cap Reaches $54.05 Billion, Approaching Intel

Chinese memory semiconductor company Changxin Memory (CXMT) has reached a market capitalization of $54.05 billion following its listing on the Shanghai Science and Technology Innovation Board, coming close to Intel's $55.26 billion. As of August 14, Changxin Memory surpassed Tencent's $50.58 billion, rising to the 24th largest company in the world by market cap. Changxin Memory is China's largest DRAM manufacturer, with DRAM widely used in smartphones, PCs, and servers. On its first day of trading on July 27, the company raised approximately $8.6 billion and began trading at a price 466% higher than its initial public offering (IPO) price. The market cap on the first day reached 3.66 trillion yuan, with the stock price rising from the IPO price of 8.66 yuan to 54.65 yuan. Changxin Memory symbolizes China's self-sufficiency in DRAM and is highly valued amid U.S. semiconductor equipment and technology restrictions. However, the rapid increase in stock price immediately after the listing and the limited circulation volume necessitate caution when comparing market caps. Compared to Samsung Electronics and SK Hynix, Changxin Memory's market cap remains relatively small. Nomura forecasts that Changxin Memory's share of global DRAM production will increase to about 18% by 2028. Currently, Changxin Memory has recorded a market cap close to Intel's due to its large IPO and soaring stock price.

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