Oil prices sink nearly 7% and world shares gain as Chinese chipmaker CXMT soars in Shanghai debut

ChangXin Memory Technologies (CXMT), China's largest memory chip maker, experienced a remarkable stock market debut on the Shanghai Stock Exchange's Star Market, with shares surging over 470%. This surge propelled the company's valuation to approximately 3.3 trillion yuan, making it mainland China's most valuable listed company. CXMT manufactures DRAM chips essential for AI data centers, mobile phones, PCs, and other devices. The company, founded in 2016, intends to use the majority of its IPO proceeds to increase memory chip production and invest in research and development. This strong performance occurred despite a global tech stock sell-off and was attributed to demand significantly exceeding supply.

ChangXin Memory Technologies (CXMT), China's leading DRAM chip maker, saw its shares surge 472% on its Shanghai Star Market debut on Monday, July 27, 2026. This significant increase valued the Hefei-based company at 3.31 trillion yuan (US$489 billion), making it the most valuable company listed on the mainland Chinese market. CXMT's initial public offering was one of the largest on the Star Market, raising up to 66.6 billion yuan. The company's strong performance is occurring amidst an AI-driven memory boom.

World shares rose and oil prices fell nearly 7% on Monday as the U.S. and Iran paused fighting and discussed potential negotiations. This de-escalation led to market relief, with Brent crude dropping to $85.49 per barrel. In Shanghai, Chinese memory chipmaker CXMT experienced a dramatic debut, with its shares soaring 466% and making it China's most valuable listed company. Major European and Asian stock markets also saw gains. The article notes that recent energy price surges and tariffs could contribute to inflation, impacting consumer budgets and Federal Reserve policy. Investors are also watching corporate earnings, particularly concerning the profitability of artificial intelligence investments.