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Chinese memory chipmaker ChangXin Memory Technologies (Cxmt) has inked a significant agreement with Tencent Holdings valued at over $2.94 billion. The deal encompasses multiple years of DRAM chip supply for servers critical in powering cloud computing, databases, and AI workloads. This move comes amidst a global memory chip shortage that has pushed costs higher, making long-term supply contracts crucial for companies. The specifics of the deal, including the inclusion of Cxmt’s high-bandwidth memory (HBM), remain undisclosed at this time. Founded in 2016 with government support, Cxmt plays a pivotal role in China’s strategic efforts to establish a stronger presence in…
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