Asia Centric: Can CXMT and Kimi K3 Break the Memory Supercycle?
Memory chips have been the standout trade of the AI boom, but July brought a sharp reality check. Global semiconductor stocks whipsawed as investors began questioning the return on hundreds...
By Clara Chen · Bloomberg
Memory chips have been the standout trade of the AI boom, but July brought a sharp reality check. Global semiconductor stocks whipsawed as investors began questioning the return on hundreds of billions in data-center spending. Market jitters deepened after Chinese startup Moonshot released its open-source Kimi K3 model at a fraction of the cost of US frontier AI architectures. Compounding these concerns is the rise of CXMT, China’s leading DRAM supplier, whose stock surged fivefold following a b