Live Markets
Connecting to live market indices...
Bein Crypto

CXMT Stock Jumps Another 9%: What the Chipmaker Means for the AI Race

CXMT Stock Jumps Another 9%: What the Chipmaker Means for the AI Race

CXMT Corp (688825) jumped 8.95% on Friday to close at 57.60 yuan (about $8.51), extending its rally through a fifth trading day on the Shanghai Stock Exchange.

The Chinese memory chipmaker has grown continuously in the few days since its record initial public offering (IPO) last week, pushing its market capitalization to roughly 3.54 trillion yuan, or about $523 billion.

Why CXMT Keeps Climbing CXMT, short for ChangXin Memory Technologies, listed on Shanghai’s STAR Market on July 27. Shares surged as much as 466% on opening day.

The move briefly pushed CXMT past Industrial and Commercial Bank of China to become mainland China’s most valuable listed company. In its few days since IPO, CXMT has seen upward growth. Image Source: Trading View The IPO raised 57.92 billion yuan, or about $8.6 billion.

This page shows the RSS-provided summary/preview. Full publisher content remains available at the original source.

Read Full Article at Source

FAQs

You can click the "Read Full Article at Source" button above. It will route you directly to the original publisher's website where the article is hosted in full.

Yes, most public blockchains (like Bitcoin and Ethereum) are transparent. Transactions can be traced back to public keys and wallet addresses, meaning that while they are pseudonymous (names are not directly tied to addresses), they are not completely anonymous.

TRADEMINATI X is an automated real-time cryptocurrency news aggregator. It fetches and analyzes RSS feeds, organizing publications by coin hashtags to make tracking specific assets efficient.
Ad Space