{"id":58249,"date":"2026-08-03T10:22:43","date_gmt":"2026-08-03T10:22:43","guid":{"rendered":"https:\/\/www.vtmarkets.com\/en-ca\/uncategorized\/chinas-ai-memory-ambition-the-global-co-nand-dram\/"},"modified":"2026-08-03T10:22:43","modified_gmt":"2026-08-03T10:22:43","slug":"chinas-ai-memory-ambition-the-global-co-nand-dram","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/en-ca\/opinion\/chinas-ai-memory-ambition-the-global-co-nand-dram\/","title":{"rendered":"China\u2019s AI Memory Ambition: The Global ‘Co-NAND-DRAM’"},"content":{"rendered":"\n
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AI memory race beyond borders<\/figcaption><\/figure>\n\n\n\n

When CXMT\u2019s valuation surged this year, investors were not simply buying a memory-chip company. They were buying into a bigger idea: that China could build its own AI-era memory infrastructure<\/a>, reducing reliance on global market leaders.<\/p>\n\n\n\n

The scale of that optimism has been significant. CXMT\u2019s market debut triggered a sharp re-rating<\/a>, with investors valuing the company as a potential domestic challenger to established memory producers. The company\u2019s valuation reached roughly US$8.6 billion following its listing<\/a>, reflecting expectations that it could become one of China\u2019s most important semiconductor companies.<\/p>\n\n\n\n

The rise also pushed attention toward Chairman Zhu Yiming<\/a>, whose fortune increased alongside expectations that CXMT could become one of China\u2019s most important semiconductor companies.<\/p>\n\n\n\n

Could CXMT be a name as well-known as NVIDIA? Read to find out.<\/p>\n\n\n\n

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AI needs both speed and storage<\/h2>\n\n\n\n

Before looking at the companies involved, it helps to think about how memory works in the human brain.<\/p>\n\n\n\n

You have short-term memory, the kind you use when holding a phone number in your head while dialling or keeping track of a conversation as it happens. It needs speed, instant access, and constant updating. This is almost like DRAM<\/strong> in computers.<\/p>\n\n\n\n

You also have long-term memory, which stores photos, experiences, and information collected over time. It needs capacity, reliability, and efficiency rather than immediate speed. For computers, this is made possible by NAND storage<\/strong>.<\/p>\n\n\n\n

Human memory<\/td>Computer memory<\/td>Chinese company<\/td><\/tr>
Short-term memory<\/td>DRAM<\/td>CXMT<\/td><\/tr>
Long-term memory<\/td>NAND<\/td>YMTC<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

The global memory market remains dominated by three major players: Samsung, SK Hynix<\/a>, and Micron, which together account for the overwhelming majority of DRAM supply. CXMT aims to become a major player in DRAM<\/a>, the memory used in active computing. YMTC is focused on NAND, the storage layer that holds vast amounts of data. Different technologies, different roles, but both support the same broader ambition: building a more complete domestic semiconductor ecosystem in China.<\/p>\n\n\n\n

Memory into assets in the AI boom<\/h2>\n\n\n\n

AI did not create the need for memory, but it has significantly increased demand for it.<\/p>\n\n\n\n

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High-performance memory used in AI systems has become one of the fastest-growing segments of the market, with demand for HBM expected to expand rapidly as companies invest in larger AI models and data centres.<\/p>\n\n\n\n

Large AI models require enormous amounts of data. Some of that data must be stored, while some must be accessed and processed quickly. NAND acts like the warehouse, holding the information AI systems learn from. DRAM acts like the workspace, allowing processors to access and process information efficiently.<\/p>\n\n\n\n

For CXMT, the opportunity is to move closer to the part of the market where AI demand is strongest. The company is attempting to enter a segment where existing players have spent years building manufacturing expertise, customer relationships, and production scale.<\/p>\n\n\n\n

YMTC\u2019s opportunity is different but equally important. AI systems depend on huge amounts of stored data, from training datasets to enterprise information. Without sufficient storage capacity, the wider AI ecosystem cannot scale.<\/p>\n\n\n\n

Together, CXMT and YMTC<\/a> represent two sides of the same challenge: building the memory foundation required for the AI era.<\/p>\n\n\n\n

Why CXMT is being valued as more than a chip company<\/strong><\/h3>\n\n\n\n

The development of CXMT and YMTC is also tied to a wider push for semiconductor resilience.<\/p>\n\n\n\n

After facing restrictions on advanced chip technologies, China has placed greater emphasis on developing domestic capabilities across the semiconductor supply chain.<\/p>\n\n\n\n

That has made both companies more than conventional chip manufacturers. They are also viewed as strategically important players in a broader industrial strategy.<\/p>\n\n\n\n

This position provides meaningful advantages:<\/p>\n\n\n\n