ChangXin Memory Technologies Reports Record First-Half Revenue in 2026 Amid AI-Driven Demand
ChangXin Memory Technologies (CXMT) reported first-half revenue of 150.31 billion yuan ($22.4 billion), an 874% increase from the previous year, driven by strong demand for memory chips in artificial intelligence applications and a global supply shortage. The Hefei-based company also turned profitable with net income of 77.61 billion yuan after reporting a loss in the prior full year. CXMT's performance exceeded its own guidance and marked a significant jump from total revenue in all of 2025, which was just 15.4 billion yuan. The company cited continued tight supply conditions for DRAM memory chips through the remainder of the year as AI companies secure more inventory for data centers. CXMT's stock has surged over 466% since its Shanghai IPO in July and now commands a market cap of 3.28 trillion yuan, making it China’s most valuable listed company ahead of Tencent Holdings and Alibaba.
