ChangXin Memory Technologies (CXMT), a leading Chinese memory chipmaker, is planning a massive initial public offering (IPO) of up to $9.8 billion on the Shanghai Stock Exchange.This move positions CXMT to challenge global leaders like Samsung Electronics, SK hynix, and Micron in the AI data center memory chip market.

The IPO could surpass China's largest mainland tech share sale since 2010, raising significant funds to boost domestic hardware production for artificial intelligence.

Advanced memory chips are in high demand due to their role in AI servers, driving up prices and creating shortages of DRAM chips used in laptops and phones.CXMT's chips are reportedly being tested by Apple amid supply issues.Despite Pentagon concerns about its military ties, the IPO highlights China's push to reduce reliance on foreign tech.

Analysts note this could be a milestone for China's semiconductor industry, attracting investors and signaling strong growth potential in AI hardware.