Chinese memory chipmaker CXMT saw its shares surge approximately 470% during their Monday listing on the Shanghai Stock Exchange. This jump pushed the company’s market capitalization to around 3.3 trillion yuan. The Hefei-based firm raised 57.92 billion yuan, roughly 8.6 billion dollars, marking Asia’s largest IPO this year. Investors piled in as memory chip prices continue climbing amid growing AI-driven demand.
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