CXMT's DRAM Market Share Could Double by 2028 on Wafer Expansion and AI Demand
CXMT, China's leading DRAM chipmaker, saw its shares surge 466% to 49 yuan on listing, becoming the most valuable company on mainland Chinese markets with a market cap of 3.28 trillion yuan (US$484.6 billion), surpassing Intel's US$464 billion. Analysts at Nomura estimate CXMT's global DRAM market share could rise from about 10% to 18% by end of 2028, driven by monthly wafer capacity expansion from 280,000 12-inch wafers in Hefei and Beijing at end of 2025 to 350,000 by end of 2026 and 550,000 by end of 2028, with new lines in Shanghai. AI demand is expected to further boost growth and potentially more than double the stock's value.
Key facts
- CXMT shares surged 466% to 49 yuan on listing.
- Market cap of 3.28 trillion yuan (US$484.6 billion) exceeds Intel's US$464 billion.
- Nomura estimates global DRAM market share could rise from 10% to 18% by end of 2028.
- Monthly wafer capacity to expand from 280,000 (end 2025) to 350,000 (end 2026) to 550,000 (end 2028).
- New wafer lines to be added in Shanghai.
- AI demand is a key growth driver.
- Stock value could more than double according to analysts.
- CXMT is China's top DRAM chipmaker.
Entities
Institutions
- CXMT
- Nomura
- Intel
Locations
- China
- Hefei
- Beijing
- Shanghai