China's CXMT Chip Announcement Sends Memory Stocks Lower

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China's chipmaker CXMT has rattled global memory chip shares after reporting progress on a denser 4F² DRAM design. The company also plans to release a server memory module by the end of 2026. Investors have responded by selling off shares of Micron, SK Hynix and Samsung, erasing billions in market value. The sell-off reflects growing doubt about how long the profits driven by AI demand can continue. Analysts are weighing how serious a competitive threat CXMT poses to established memory makers.

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