Chinese RAM company CXMT makes a $484 billion stock market debut

CXMT surged 466% on its Shanghai stock market debut, pushing its valuation to $484 billion.

Investors are betting the Chinese memory maker can challenge DRAM leaders Samsung, Micron, and SK Hynix.

Rising AI-related memory demand is tightening the global supply chain and boosting interest in new chip suppliers.

Some device makers are reportedly evaluating or adopting CXMT chips as an alternative source.