A little-known Chinese chipmaker that became a $500 billion powerhouse in just a few months sent shockwaves through global technology markets Tuesday, triggering a selloff in semiconductor stocks after announcing progress on a memory chip design that could challenge some of the industry's biggest players.
ChangXin Memory Technologies (CXMT), China's leading memory chip manufacturer, rattled investors with news of a technological advance that could allow it to produce more efficient memory chips capable of storing greater amounts of data in smaller spaces.
