Chinese chipmaker CXMT surges 470% on debut to top mainland market cap

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Chinese memory chipmaker CXMT became mainland China's most valuable listed company following its stock market debut. The company's shares surged by an extraordinary 470% on their first day of trading. The dramatic rise reflects soaring investor appetite for semiconductor firms amid a global AI-driven boom in chip demand. CXMT's listing marks a significant milestone for China's domestic chip industry, which has been expanding rapidly in recent years.

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