CXMT expects $19.6B Q1–Q3 profit as AI demand lifts DRAM prices
Chinese memory chipmaker CXMT said in a preliminary filing that it expects net profit of 131B to 132.5B yuan ($19.6B–$19.8B) for January–September 2026, versus a 5.3B yuan loss a year earlier, with revenue of 265B to 270B yuan, up more than eightfold from 32.1B yuan. The company attributed the swing to fast-growing AI computing demand since the second half of 2025, which has lifted the global DRAM market, caused shortages and sharply raised prices, alongside added capacity and better wafer output. Its chairman also proposed buying back 1B to 2B yuan of shares over 12 months, per The Next Web. CXMT listed in Shanghai in July, when shares rose 466% on day one, and closed Friday with a market value of about 3.06T yuan; its claim that a fifth-generation DRAM is in mass production has not been verified by outside testers, while some Western brands such as Corsair have begun using Chinese DRAM.
Memory is a key bottleneck for AI compute, and CXMT's profit forecast shows how AI demand is pushing the DRAM cycle to unusually high levels while reshaping the supply chain.