{
  "id": 771658,
  "title": "Memory maker CXMT overtakes Tencent to become China's most valuable company 17 days after its IPO — now worth $524 billion",
  "url": "https://urgent.news/2026/08/13/memory-maker-cxmt-overtakes-tencent-to-become-chinas-most-valuable",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-13T13:27:14.000Z",
  "source": {
    "name": "Tom's Hardware",
    "slug": "tom-s-hardware",
    "url": "https://www.tomshardware.com/tech-industry/cxmt-overtakes-tencent-to-become-chinas-most-valuable-company-17-days-after-its-ipo"
  },
  "original_language": "en",
  "account": "Memory maker CXMT has overtaken Tencent to become China's most valuable company, with a market cap of $524 billion, just 17 days after its IPO. The crossover occurred as Tencent's shares fell further due to a 176% increase in capital spending on AI infrastructure, disclosed in its second-quarter results. CXMT, which signed server DRAM agreements with both Tencent and ByteDance, now holds 7.67% of the global DRAM market. The company's market cap, currently at $524 billion, is roughly half of Micron's $1 trillion and about 60% of SK hynix's $880 billion. CXMT's first-quarter results showed an operating profit of 35.43 billion yuan ($5.2 billion), thanks to rising DRAM prices during the ongoing memory shortage. However, investors are still divided on the company's ranking, with analysts providing differing price targets for the stock.",
  "summary": "ChangXin Memory Technologies (CXMT) is now the world's most valuable Chinese company after passing Tencent.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}