China's CXMT jumps 471% on IPO, tops Intel's market cap

Impressive! China is catching up fast!

"Chinese memory chip maker ChangXin Memory Technologies (CXMT) soared 471.6% on its market debut on the Shanghai Stock Exchange's STAR Market on July 27, 2026. The state-backed DRAM producer raised at least 57.9 billion yuan ($8.6 billion) in Asia's largest initial public offering of the year.

Market Impact and Valuation

Opening price: Began trading at 49.50 yuan per share, up from its IPO price of 8.66 yuan.

Instantly became the most valuable company listed in mainland China, surpassing firms like Intel ($464 billion) and Cisco ($450 billion)." (Google Search)

China's CXMT jumps 471% on debut, tops Intel's market cap - Nikkei Asia "State-backed DRAM supplier rides AI boom to record IPO despite valuation concerns"