China’s CXMT jumps 465% on debut, tops Intel’s market cap

State-backed DRAM supplier rides AI boom to record IPO despite valuation concerns Chipmaker CXMT's held a record IPO on the Shanghai STAR Market with its landmark share sale on July 27. © Reuters SHANGHAI — Chinese memory chip maker CXMT jumped in its stock market debut on Monday, after raising at least 57.9 billion yuan ($8.6 billion) in Asia's largest initial public offering so far this year.

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