China's CXMT Soars 470% in Shanghai Debut

The debut coincided with a broader AI-driven demand for memory chips, with Nomura forecasting further gains of more than 1,200% from the IPO price.

CXMT's rise comes amid US-China tech tensions and export restrictions.

The company, once dismissed as a risky local bet, is now at the center of China's chip ambitions.

The listing is the largest in Shanghai in years, reflecting robust investor appetite.