CXMT Swings to Q3 Profit as AI Demand Drives 613% Revenue Growth

China’s largest DRAM manufacturer, ChangXin Memory Technologies (CXMT), reported Q3 net profit of 54.4 billion yuan (~$8.17 billion), reversing a loss in the same period last year. The turnaround followed a global surge in AI-related demand that tightened memory chip supply and pushed prices higher.

Revenue climbed 613.2% year over year to 118.71 billion yuan (~$16.7 billion). Samsung, SK Hynix and Micron have shifted capacity toward higher-margin high-bandwidth memory (HBM) for AI servers. That shift has tightened supply of conventional DRAM, the market CXMT serves.

These were CXMT’s first results since its large IPO in July.