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Apple Inc. (NASDAQ: AAPL) is reportedly evaluating memory chips from Chinese state-backed ChangXin Memory Technologies (CXMT) for devices sold in China, according to a Financial Times report citing people familiar with the matter. While Apple has not committed to using the chips in commercial products, the report said the company is testing CXMT's DRAM technology and has joined other U.S. technology firms in advocating for broader approval of CXMT products in the U.S.
The reported move highlights the rapid rise of CXMT, which has transformed from a government-backed startup into the world's fourth-largest DRAM memory chip manufacturer, trailing only Samsung Electronics, SK Hynix, and Micron Technology. The company has expanded aggressively with significant state support, strengthening China's position in the global semiconductor industry.
According to the report, CXMT represented approximately 11% of global DRAM wafer production capacity last year. That figure is expected to climb to around 15% by 2028 as the company expands manufacturing facilities in Hefei, Shanghai, and Beijing. The additional capacity is expected to increase competition in the global memory chip market.
Industry analysts have also raised concerns that China's continued investment in domestic semiconductor manufacturing could mirror the rapid expansion previously seen in sectors such as electric vehicles and solar panels. If production continues to accelerate, the growing supply of DRAM chips could place downward pressure on global memory prices and intensify competition for established chipmakers.
Meanwhile, CXMT is preparing for a domestic initial public offering that analysts believe could value the company at up to 3 trillion yuan. The chipmaker plans to use the IPO proceeds to expand manufacturing capacity, develop next-generation DRAM products, and accelerate research into high-bandwidth memory (HBM), a critical technology used in artificial intelligence accelerators and advanced AI computing systems.
Apple's reported evaluation of CXMT underscores the growing importance of China's semiconductor ecosystem as global technology companies seek to diversify supply chains while navigating geopolitical and regulatory challenges.
