Chinese memory chipmaker CXMT raising $1.5b in fresh round despite US sanction threats

Chinese memory chipmaker CXMT raising $1.5b in fresh round despite US sanction threats

Photo by Adi Goldstein on Unsplash

The holding company of ChangXin Memory Technologies (CXMT) is in the process of raising nearly 10.8 billion yuan ($1.5 billion) in a new round of equity financing even as the Chinese memory chipmaker faces potential sanctions by the Biden administration amid China’s intensifying tech rivalry with the US.

Edited by: Padma Priya