CXMT seeks funding for second Beijing chip plant days after 466% IPO surge

CXMT, China's largest chipmaker by market value, is in early financing talks for a second DRAM plant in Beijing, Reuters reported August 3. The move follows a Shanghai IPO that raised $8.6 billion and sent shares up 466%, valuing the company near $488 billion — over half of Micron's valuation despite a far smaller global DRAM market share.