From The Next Web · Alina Maria Stan · · 1m 10s
Chinese chipmaker CXMT swings to nearly $20B profit
Memory chip prices surge on AI demand, turning CXMT's loss into a massive gain in nine months.
In brief
Memory chip prices surge on AI demand, turning CXMT's loss into a massive gain in nine months. Chinese memory chipmaker CXMT expects a net profit of nineteen point six to nineteen point eight billion dollars for the first nine months of twenty twenty-six, reversing a five point three billion yuan loss a year earlier…
CXMT swings from loss to profit
Chinese memory chipmaker CXMT expects a net profit of one hundred thirty one to one hundred thirty two point five billion yuan, or nineteen point six to nineteen point eight billion dollars, for January to…
Revenue jumps eightfold on AI demand
Revenue is set to reach two hundred sixty five to two hundred seventy billion yuan, up from thirty two point one billion yuan a year earlier.
Chairman proposes share buyback plan
Chairman Zhu Yiming proposed that CXMT buy back one to two billion yuan of its own shares over twelve months. The shares could be used for staff incentive plans or cancelled.
The short version
Chinese memory chipmaker CXMT expects a net profit of nineteen point six to nineteen point eight billion dollars for the first nine months of twenty twenty-six, reversing a five point three billion yuan loss a year earlier, as AI-driven demand causes global memory shortages and prices to rise sharply.
