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CXMT reported its first financials as a public company, showing a significant profit from the artificial-intelligence surge.
CXMT reported its first financials as a public company on Friday, showing a significant profit from the artificial-intelligence surge. The Chinese memory-chip producer reported a first-half profit of 77.6 billion yuan to the Shanghai stock exchange. This growth was driven by a surge in artificial-intelligence services lifting prices. Sales for CXMT jumped 874% to 150.3 billion yuan ($22.4 billion) during the period. The report highlights the company's strong performance and its ability to capitalize on the current technology boom.