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Benzinga
Benzinga
Business
Rishabh Mishra

China’s Biggest Chip IPO Creates a $500 Billion Rival for Micron as Apple Reportedly Tests CXMT Memory Chips

CXMT AS Apple China Memory IPO Shay Boloor ChangXin Memory Technologies Samsung Semiconductor
Chips, semiconductor shutterstock_2198551397

China’s premier semiconductor manufacturer, ChangXin Memory Technologies (CXMT), skyrocketed in its Shanghai stock market debut to surpass a $500 billion valuation.

The chipmaker has set its sights on industry leaders like U.S. listed Micron Technology Inc. (NASDAQ:MU) as iPhone maker Apple Inc. (NASDAQ:AAPL) reportedly began testing CMXT’s memory chips for its domestic devices.

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