CXMT Plans New Beijing Chip Plant Following $8.6 Billion IPO

ChangXin Memory Technologies is planning to build a second 12-inch memory-chip plant in the Yizhuang district of Beijing. The company is currently in early-stage financing talks with the Beijing Economic-Technological Development Area and other state-owned tech firms to secure at least 60 million yuan in support.

This expansion follows a record-breaking $8.6 billion IPO completed last month. The move aligns with a broader strategy to increase production as AI infrastructure drives a global chip shortage. To achieve a goal of doubling its capacity to over 600,000 wafers per month, the company is also constructing new facilities in Shanghai and Hefei.

The initiative is part of a national Chinese effort to establish a self-sufficient semiconductor industry and narrow the technological gap with the United States. CXMT already operates two 12-inch DRAM fabs in Hefei and a Beijing-based fab operated by Changxin Jidian since 2020.