Singapore|Shanghai: Shares of CXMT Corp soared 466% on their Shanghai trading debut on Monday following Asia's biggest IPO this year, catapulting the chipmaker to the top of China's stock market by valuation despite a recent selloff in global tech stocks.
As US curbs intensify competition in the global semiconductor race, CXMT has emerged as a key pillar of Beijing's drive to build a self-sufficient chip industry and close the gap in strategic technologies such as artificial intelligence.
