This Chinese computer chip maker burned through $5 billion in a decade — then made it all back in a single quarter

ChangXin Memory Technologies (CXMT), a Chinese memory chip manufacturer based in Hefei, transitioned from sustained losses to profitability driven by surging demand for dynamic random-access memory (DRAM) from artificial intelligence data centers. The company had accumulated approximately $5 billion in losses over the preceding decade before experiencing a dramatic reversal in fortune.
CXMT’s revenues expanded 700% between 2025 and 2026, generating $7.5 billion in revenues during the firs