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CXMT shares jump to a record as AI-fuelled memory rally lifts chip peers
The DRAM maker’s market value rose to 4.13 trillion yuan after a 12.0% gain to 61.80 yuan, amid moves in SanDisk and Micron on AI memory demand expectations.
ChangXin Memory Technologies, China’s leading DRAM maker, rallied on Monday as an AI-fuelled memory upcycle lifted the broader sector. SCMP Economy said CXMT shares rose 12.0% to a record 61.80 yuan, pushing its market capitalization to 4.13 trillion yuan and extending its lead as the country’s most valuable listed company.
The outlet attributed the latest surge largely to sector momentum after investor day updates helped reinforce expectations for tight memory supplies tied to artificial intelligence. SCMP Economy noted that SanDisk shares surged nearly 30% over Thursday and Friday, following its investor day, while Micron Technology gained 6.7% last Friday.
SCMP Economy said SanDisk had reported strong quarterly results earlier in the month, and that at its investor day it forecast solid long-term growth and margins, supporting confidence in the memory cycle. Nomura pointed to SanDisk’s view of AI data center SSD shipments reaching 1,200 exabytes in 2030, with SCMP Economy adding that one exabyte equals 1 million terabytes.
The move also reflected a shift in how investors view AI hardware demand, according to SCMP Economy. It said Nomura and Bernstein highlighted expectations that AI is moving from a more compute-centric approach toward more memory-centric needs, and that SanDisk’s planned high-bandwidth flash technology could use substantially more wafer capacity than conventional NAND, potentially keeping supplies tight for longer.