China’s leading DRAM chip maker, ChangXin Memory Technologies, plans to raise $4.22 billion through an IPO in Shanghai. The company will use the funds to upgrade production lines and develop advanced DRAM technology. With backing from Alibaba and Xiaomi, CXMT aims to compete with South Korean and U.S. rivals in the global market. It holds a 4% market share, while Micron, SK Hynix, and Samsung control over 90%. The company is also investing in high-bandwidth memory for applications like Nvidia’s AI processors. Expectations of revenue growth and profitability by 2026 are high.

Read more at Yahoo Finance: China’s CXMT eyes $4.2 billion Shanghai listing to fund DRAM expansion