ChangXin Memory Technologies (CXMT), China’s largest DRAM maker and the world’s fourth-largest with roughly 7% global share, has begun small-scale or small-volume production of fifth-generation HBM3E for AI processors. Alibaba’s T-Head and Cambricon are testing the memory, and Chinese AI semiconductors using it could reach data centers as early as next year if verification succeeds. CXMT plans to expand output after raising $8.6 billion, or about 11.8 trillion won, through its Shanghai Stock Exchange listing in July. The company remains one HBM generation behind Samsung Electronics and SK hynix, which are mass-producing HBM4, and Micron, while industry estimates place CXMT three to five years behind leading suppliers in technology, yield, reliability and performance. The development comes as TSMC retains proven microbump packaging for HBM-to-accelerator connections and asks suppliers to develop 5μm-class bumps, with mass production estimated for the second half of 2027, while hybrid bonding remains deferred for later HBM generations.