China's CXMT jumps 471% on debut, tops Intel's market cap

IPOState-backed DRAM supplier rides AI boom to record IPO despite valuation concernsChipmaker CXMT's held a record IPO on the Shanghai STAR Market with its landmark share sale on July 27. © ReutersWATARU SUZUKIJuly 27, 2026 10:43 JSTUpdated on July 27, 2026 12:00 JSTSHANGHAI -- 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.Read NextPolicy AsiaHefei's CXMT jackpot fuels China local governments' tech betsArtificial intelligenceChina's Moonshot AI plans Hong Kong IPO as Kimi K3 shocks Silicon ValleyMarketsSK Hynix rallies in biggest-ever foreign share sale in USSemiconductorsChina's Nexchip has global ambitions as legacy chips thrive in AI's shadowTec