How Memory Chipmaker CXMT Became the Most Valuable Company in Mainland China The Shanghai Stock Exchange's STAR market has witnessed several blockbuster debuts in recent years, but none have been as impressive as CXMT's record breaking IPO.
The memory chipmaker's shares skyrocketed by 470% on their first day of trading, catapulting it to the top of mainland China's most valuable listed companies.
CXMT's rapid growth can be attributed to the expanding artificial intelligence sector, which has become a driving force behind demand for memory chips.