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Hefei city government owns 37% of memory chipmaker ChanXin Memory

ChanXin holds about 10% of the global DRAM market, so a large state-linked stake matters for memory chip supply.

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DeedyLead source
A company you’ve never heard of was started 10yrs ago is the 32nd largest in the world. They are the #4 largest maker of DRAM, behind Samsung, SK Hynix and Micron with ~10% of the global market. They’re worth $430B and were briefly the biggest company in China. It’s ChanXin Memory Technologies (CXMT). They’re growing >6x YoY, and made $40B in the first 9mos of this year at 50% gross margin. Surprisingly, 2/3rd of its business is phone memory, and AI compute is a small part of their business. The founder, Yiming Zhu did his PhD at Stony Brook after Tsinghua and worked in semis in the valley before going back to China in 2005. He started CXMT in 2016 in the lesser known city of Hefei. The funding story of the company is unusually fascinating too. The city government of Hefei owns ~37% of…
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How the headline evolved

  1. Hefei city government owns 37% of memory chipmaker ChanXin Memory

  2. Hefei city government owns 37% of memory chipmaker ChanXin Memory Technologies

  3. Hefei city government owns 37% of DRAM maker CXMT

  4. Hefei city government owns 37% of DRAM maker ChanXin Memory

  5. Chinese city government of Hefei owns 37% of memory chipmaker CXMT

  6. Hefei city government owns 37% of DRAM maker CXMT

  7. Hefei city government owns 37% of memory chip maker CXMT

  8. Hefei city government owns 37% of DRAM maker CXMT