CXMT Mega IPO and Memory Chip Race

CXMT's $85.5B Shanghai debut surged 466%, 570x oversubscribed, but valuation debate rages ($1.1T bull vs $160B bear). Expert caution: still 2-3 gens behind SK Hynix, 20-30% higher costs, no HBM. US senators block Apple from using CXMT/YMTC chips. CXMT plans second Beijing plant, capacity doubling. Revised IC layout regulations strengthen IP protection. YMTC pre-IPO next.