Chipmaker's inclusion in main global index system set to spur passive demand and spotlight China's growing semiconductor clout: analysts The inclusion of ChangXin Memory Technologies (CXMT) in a broad MSCI gauge of Chinese stocks may strengthen the chipmaker's position as the most valuable stock on the onshore market,

The Hefei-based company raised 57.92 billion yuan ($8.6 billion) after pricing its IPO at 8.66 yuan per share.

The Wall Street Journal reported on August 9 (local time) that Apple is in early-stage negotiations to equip its products, including iPhones and MacBooks sold in China, with memory chips from Chinese firm CXMT (ChangXin Memory Technologies).

By Yantoultra Ngui and Samuel Shen SINGAPORE/SHANGHAI, July 27 (Reuters) - Shares of CXMT Corp soared 466% on their Shanghai trading debut on Monday following Asia's biggest IPO this year, catapulting the chipmaker to the top of China's stock market by valuation despite a recent selloff in global tech stocks.

CXMT plans a second Beijing DRAM fab, seeking 60B yuan funding to boost 12-inch wafer capacity and expand China’s memory chips—read the Reuters report.

The company faces a challenge as it does not have access to the latest extreme ultraviolet, or EUV, lithography machines, essential for manufacturing advanced chips.

China’s state-backed CXMT Corp. is poised to produce smartphone memory chips that are on par with the industry’s most advanced designs, highlighting the speed at which Beijing is gaining ground in a field critical for AI deployment.

A Chinese national champion at the forefront of a fierce technology rivalry with the U.S., CXMT is now the country’s largest onshore-listed firm.

US chip export controls were meant to weaken China's AI. CXMT's 466% debut shows the strategy may have backfired.