AI Memory Demand Lifts CXMT to China’s Most Valuable Company

Shares of Chinese memory chipmaker CXMT rose about 470% on their Shanghai trading debut Monday. The move lifted its market value to roughly 3.3 trillion yuan. The Hefei-based company raised 57.92 billion yuan, or about $8.6 billion, in Asia’s largest initial public offering this year. Investors bid it up as memory prices climb amid demand