CXMT plans second chip plant in Beijing, in talks for funding

CXMT, China’s largest chipmaker by market value, is considering building a second memory-chip plant in Beijing and is in financing talks with a tech manufacturing hub backed by the local government, two sources familiar with the matter said.

The move comes as CXMT seeks to boost production amid a global chip shortage driven by AI infrastructure spending. It highlights intensifying competition among Chinese local governments to attract CXMT, as the memory chipmaker pursues a major expansion following its $8.6 billion IPO last month, the largest mainland Chinese semiconductor listing on record.