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CXMT’s Rise to China’s Most Valuable Firm Heralds New Tech Era
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Asia CXMT’s Rise to China’s Most Valuable Firm Heralds New Tech Era CXMT Corp.’s ascent to the pinnacle of Chinese markets heralds a potentially consequential shift away from private-sector giants toward a new generation of hardware companies more closely aligned with Beijing’s strategic ambitions. The memory chipmaker — considered central to China’s AI infrastructure buildout — overtook Tencent Holdings Ltd. as the country’s most valuable company last week, surpassing half a trillion...
Asia
CXMT’s Rise to China’s Most Valuable Firm Heralds New Tech Era
CXMT Corp.’s ascent to the pinnacle of Chinese markets heralds a potentially consequential shift away from private-sector giants toward a new generation of hardware companies more closely aligned with Beijing’s strategic ambitions.
The memory chipmaker — considered central to China’s AI infrastructure buildout — overtook Tencent Holdings Ltd. as the country’s most valuable company last week, surpassing half a trillion dollars of capitalization. Days earlier, Unitree Robotics’ initial public offering drew frenzied retail demand, with the tranche for mom-and-pop investors subscribed more than 5,500 times. Both are intricately linked to Beijing’s effort to catch and surpass the US in a technology with the potential to transform economies.