On July 27, CXMT began trading on Shanghai's STAR Market, opening at RMB 49.50 per share – a 471.6% jump – giving it an opening market cap of RMB 3.31 trillion. The stock climbed further intraday to a peak of RMB 55, pushing its valuation to RMB 3.66 trillion ($~50.6 billion) by midday.

At this level, CXMT has overtaken Intel (~$43.4 billion)** and **Tencent's Hong Kong-listed value (~$48 billion) , reflecting the market's strong confidence in China's domestic DRAM sector.

From ICgoodFind: The market just placed a massive bet on domestic memory. CXMT's IPO valuation shows the appetite for local DRAM plays is real – but the real story is whether production and profits can keep pace with the stock price.