Key facts
- China's CXMT has narrowed the HBM gap with South Korea to three years.
- CXMT is reportedly nearing technology parity on HBM3.
- Chinese firms are gaining market share due to AI chip demand and sanctions workarounds.
- CXMT plans an IPO to raise capital.
A report suggests that China, through its company CXMT, has significantly reduced the technological gap with South Korea in High Bandwidth Memory (HBM), potentially achieving parity on HBM3 within three years. This advancement is occurring despite US sanctions on advanced semiconductor manufacturing equipment like extreme ultraviolet (EUV) machines. The high demand for AI chips has created an opportunity for Chinese firms to increase their market share. CXMT is also reportedly planning an Initial Public Offering (IPO) to secure capital for its expansion and development efforts. Previously, global NAND revenue surged to $46 billion in Q1 2026, driven by AI demand, with CXMT securing 13% of the market share.