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CXMT signs Tencent DRAM supply deal worth over 20 billion yuan

CXMT signs Tencent DRAM supply deal worth over 20 billion yuan

The multi-year server memory agreement was reached ahead of CXMT’s planned 29.5 billion yuan STAR Market IPO, amid a global DRAM shortage and sharply rising contract prices.

Fact Check
BlockBeats and Odaily both report, citing Reuters and three sources, that CXMT signed a multi-year (3-5 year) server DRAM supply deal with Tencent worth over 20 billion yuan (~$2.94 billion), reached ahead of CXMT's IPO. Cryptobriefing independently characterizes it as a $3 billion deal. The 29.5 billion yuan STAR Market IPO is confirmed by the Shanghai Stock Exchange newsroom and other outlets. The Reuters original (the primary source cited by all aggregators) was inaccessible due to a 451 block, but the consistent multi-source corroboration of every claim element supports a high-confidence likely_true assessment.
Summary

ChangXin Memory Technologies has signed a long-term agreement to supply Tencent Holdings with server DRAM worth more than 20 billion yuan ($2.94 billion), according to Reuters citing three people familiar with the matter. The contract runs for several years, with sources saying it spans up to three years or as long as five years, and comes ahead of CXMT’s planned 29.5 billion yuan Shanghai STAR Market IPO. The deal underscores demand for domestic memory supply as Chinese technology companies seek to secure chips during a global DRAM shortage that has driven prices sharply higher.

Terms & Concepts
  • DRAM: Dynamic random-access memory used in servers and computers.
  • HBM: High-bandwidth memory used for high-performance AI chips.
  • STAR Market: Shanghai’s technology-focused stock market for domestic listings.