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Nikkei Asia
China's CXMT jumps 471% on debut, tops Intel's market cap
Chinese chip manufacturer CXMT achieved a phenomenal 471% surge in its stock price on its first day of trading after raising 57.9 billion yuan through its initial public offering (IPO) on the Shanghai STAR Market. This major infusion of capital marks the largest IPO in Asia this year, indicating intense market interest and providing a significant boost to China's semiconductor industry. The company's market capitalization now exceeds that of Intel, reflecting the growing competitiveness of Chinese firms in the global tech landscape.
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Published 27 Jul 2026, 04:20 UTC1 min read
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Summary
TL;DR
- CXMT raised 57.9 billion yuan in its IPO
- The stock jumped 471% on debut
- CXMT's market cap surpasses Intel's
- Largest IPO in Asia for 2023
- Significant milestone for China's semiconductor industry
Interesting facts
- This IPO reflects China's ambition in the semiconductor sector.
- CXMT's performance indicates strong investor confidence in technology stocks.
Coverage gaps
- Long-term effects of this IPO on the semiconductor market