Chipmaker CXMT Eyes $9.8b In Blockbuster China IPO

China’s leading memory chipmaker is seeking to raise up to $9.8 billion in an initial public offering as the country counts on homegrown hardware to boost its position in the artificial intelligence race.

ChangXin Memory Technologies (CXMT) wants to rival US giant Micron and South Korea’s Samsung Electronics and SK hynix in memory chips used in AI data centres.

The Anhui-based company said…