Chip company: CXMT becomes China's most valuable stock exchange company
While concerns about excessive spending on AI infrastructure have been weighing on the stock exchange for incumbent Tencent, chip manufacturer CXMT is benefiting from this very boom.
Changxin Technology (CXMT), a chipmaker listed on the stock exchange for only a few weeks, has become China's most valuable listed company, surpassing internet giant Tencent. CXMT's market value reached approximately 455 billion euros on Thursday, while Tencent was valued at around 442 billion euros. Despite this, Tencent remains significantly larger in terms of revenue, generating 401 billion yuan in the first half of the year, compared to CXMT's projected 110-120 billion yuan for the same period.
The high valuation of CXMT is largely due to expectations of a boom in Artificial Intelligence, which is driving demand for memory chips.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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- AI boom: CXMT becomes China's most valuable stock exchange company handelsblatt.com
