ChangXin Memory Technologies (CXMT) shares surged by nearly 470% on their first day of trading on the Shanghai STAR Market on Monday. The Chinese chip manufacturer raised 57.92 billion yuan, approximately 8.6 billion dollars, making it the largest IPO in Asia in 2026 and the biggest semiconductor IPO ever in China. CXMT’s market capitalization reached approximately 3.3 trillion yuan, surpassing that of Industrial and Commercial Bank of China. CXMT is the world’s fourth-largest dynamic random-access memory (DRAM) producer with an estimated market share of 7.7% in 2025.
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