China's chipmakers emerge as rising force in AI memory market

China's chipmakers YMTC and CXMT are advancing IPO plans amid surging AI memory chip demand. YMTC's revenue exceeded Rmb20bn in Q1, with its NAND flash output now over 10% globally. CXMT's IPO aims to raise Rmb29.5bn. Jefferies noted, "The company plans to raise Rmb29.5bn... which will be the second-largest IPO."