AIReuters1h ago
CXMT reports Q3 revenue of ~$16.7B, up 613.2% YoY, and a net profit
CXMT reports Q3 revenue of ~$16.7B, up 613.2% YoY, and a net profit of ~$8.17B, swinging to profitability on the back of rising AI-driven memory chip prices
TL;DRChinese chipmaker CXMT posted massive Q3 profits from surging AI chip demand.
Why it matters: Signals AI boom is driving semiconductor supply shortages and pricing power globally.
China's CXMT (688825.SS) said on Friday it swung to a net profit in the third quarter as surging AI-driven demand drove prices higher for its memory chips.
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