China's DRAM Frenzy: A $489 Billion Bet on Silicon Hills The Shanghai Stock Exchange's Star Market has been abuzz with excitement over the past week, as shares of ChangXin Memory Technologies (CXMT) surged 472% on its debut, valuing the company at a staggering US$489 billion.
This valuation is not just a testament to China's growing dominance in the global DRAM market but also raises questions about the country's ability to regulate its rapidly expanding tech sector.
The sheer size of CXMT's initial public offering (IPO) is striking. With a total value of up to 66. 6 billion yuan, it has already surpassed the record breaking 53.