China's biggest chipmaker wants a second factory after huge stock debut

CXMT, China's biggest chipmaker, is seeking funding for a second memory-chip factory in Beijing, Reuters reported. Days earlier, its stock market debut raised $8.6 billion and shares soared 466%, valuing the company near $488 billion — over half of rival Micron's value, despite CXMT holding a much smaller slice of the global memory-chip market.