Chipmaker CXMT becomes China’s most valuable company

The changeover occurred after Tencent reported it had doubled its quarterly AI spending.

EquitiesAI capex fears weigh on investor sentiment surrounding big gaming and ad groupChinese memory chipmaker CXMT went public in July and immediately became the most valuable company listed on the Shanghai and Shenzhen exchanges. © ReutersWATARU SUZUKIAugust 13, 2026 19:40 JSTQINZHOU, China -- Chinese memory chip mak