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Chinese Chipmaker Soars In Blockbuster Stock Market Debut. Shares in Chinese memory chip maker ChangXin Memory Technologies surged more than 470% on their stock market debut, giving the company a valuation of around 3.3 trillion yuan. The blockbuster listing on Shanghai's Star Market makes CXMT the most valuable publicly traded company in mainland China. The company produces memory chips used in artificial intelligence data centres, smartphones, personal computers and other electronic devices. CXMT said it will use most of the money raised from the share sale to expand production and invest in research and development. The strong debut comes despite a recent global sell-off in technology stocks and is expected to provide a boost to China's financial markets after weeks of heavy losses.
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