All articles tagged with #ai memory chips
CXMT, China's fourth-largest DRAM producer, jumped nearly 500% on its Shanghai debut after raising about RMB57.9bn, pushing its market value to around RMB3.1tn and signaling strong demand for AI memory chips. The company plans to expand production and R&D, aided by Hefei government support, but still lags in mass-producing advanced HBM chips due to US export controls.
Micron Technology beat Q3 expectations with $41.46 billion in revenue and $25.11 in earnings per share, guiding about $50 billion in revenue for the next quarter. In response, Deutsche Bank raised its price target to $1,550, while DA Davidson and Cantor Fitzgerald boosted their targets to $2,000, reflecting strong AI memory demand. While the upbeat analyst coverage signals optimism, the article warns that macro factors could still cap gains, even as MU trades near $973.
SK Hynix surged over 11% after saying it plans to raise up to about $29.4 billion via a Nasdaq listing by issuing 17.79 million American depositary receipts, aiming to broaden its US investor base and narrow its valuation gap with Micron; trading is expected to begin around July 10 as the company expands AI memory-chip capacity in Korea and builds a $4 billion U.S. packaging plant in Indiana.