The US-blocked company plans to use the profits to upgrade production lines and technology after experiencing explosive growth, including first-quarter revenue of 50.8 billion yuan, up 700% year-on-year. Reuters estimates that CXMT held about 7.7% of the global DRAM market last year.
These deals follow SpaceX (SPCX) and Cerebras (CBRS), two AI-related listings that have sparked enthusiasm across semiconductor and memory stocks. Together, they reinforce a broader theme: Investors are allocating fresh capital to companies building the infrastructure behind artificial intelligence rather than to crypto assets.
Bitcoin has fallen about 50% from its peak in October to around $63,000 as investors have increasingly favored AI infrastructure over digital assets.
The pipeline is far from empty.
OpenAI and Anthropic have both been discussed as companies that could eventually command valuations approaching $1 trillion.
While market expectations had pointed to IPOs as early as this year, growing investor unease over AI valuations and a cooling in semiconductor stocks could delay those listings until 2027.
Still, another wave of AI mega-offerings will likely continue to draw liquidity away from crypto.
