Why China’s biggest memory chip maker CXMT that made Apple seek ‘special permission’ from the US government is ‘scaring’ Chinese investors

China’s biggest memory chip maker ChangXin Memory Technologies (CXMT) has become one of the most closely watched companies in the country’s semiconductor industry. The chipmaker, which reportedly made Apple seek special permission from the US government before considering its memory chips for some products due to US export restrictions, is now making headlines for its massive $8.6 billion Shanghai IPO. Likely to be Asia’s largest IPO of 2026, the upcoming IPO is raising concerns that it could drain money from China’s stock market. According to a report by CNBC, investors are selling other technology shares to free up cash for the highly anticipated listing, adding pressure on Chinese semiconductor stocks and the broader technology sector.

Why investors are worried about CXMT’s IPO