China’s CXMT Launches Near-Record IPO to Boost Semiconductor Self-Sufficiency

China’s semiconductor self-sufficiency drive hits a milestone with memory chipmaker CXMT Corp. launching a near-record initial public offering on Shanghai’s STAR Board. The offering, priced at 8.66 yuan per share, comprises 6.69 billion shares, potentially raising $9.8 billion. Semiconductors, especially memory chips, play a crucial role in the US-China tech dominance race, with CXMT positioned to reduce China’s reliance on foreign suppliers, particularly in high-bandwidth memory essential for AI data centers. CXMT, the world’s fourth-largest DRAM maker, is pivotal to China’s domestic memory-chip supply chain. By expanding its advanced DRAM production, CXMT could influence global pricing, supply dynamics, and challenge…