Shares in the Chinese memory chipmaker dropped sharply despite a forecast that it swung to a large net profit for the first nine months of 2026, driven by AI demand.
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01Summary
- 01CXMT shares fell 6.5% on Monday after the company predicted net profit of 131-132.5 billion yuan for January-September 2026, reversing a 5.28 billion yuan loss a year earlier.
- 02Revenue is expected to reach 265-270 billion yuan, an increase of 232.9-237.9 billion yuan year-on-year.
- 03The company attributed the turnaround to soaring demand for AI computing power since the second half of 2025, which tightened the DRAM market and raised prices.
- 04CXMT accounted for 10% of global DRAM revenue in Q3 2026, up from 5% a year earlier, according to Counterpoint Research.
02Why it matters
CXMT's rapid growth in the DRAM market signals intensifying competition for established players like Samsung, SK Hynix and Micron, and highlights how AI demand is reshaping the memory chip industry.
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