Chinese chipmaker CXMT files for $9.8bn IPO amid global AI chip shortage

ChangXin Memory Technologies (CXMT) plans to raise between $8.6-$9.8 billion in China's largest mainland IPO since 2010, aiming to rival US Micron and South Korea's Samsung in AI memory chips. The Anhui-based company, founded in 2016, holds 8% of global DRAM market share and will list on Shanghai Stock Exchange with shares priced at 8.66 yuan. This marks China's biggest ever tech share sale, surpassing SMIC's 2020 offering.

The IPO comes as advanced memory chips face massive demand for AI servers, creating shortages that have pushed prices up. Apple is reportedly testing CXMT's DRAM chips for future products, despite the company being on the Pentagon's list of firms with alleged military ties.

For West African consumers, this global chip shortage directly impacts prices of phones, laptops, and electronics imported from China and assembled worldwide. Technology costs have risen across markets as semiconductor supply constraints persist.

China's push for domestic semiconductor production aims to reduce reliance on foreign hardware in the AI race. Analysts say CXMT's listing signals growing confidence in China's tech self-sufficiency, but geopolitical tensions may limit international adoption.

SOURCE: https://www.channelstv.com/2026/07/15/chipmaker-cxmt-eyes-9-8b-in-blockbuster-china-ipo/