ChangXin Memory Technologies, or CXMT, filed the outlook on Friday for the nine months ended September 2026. The company projected that net profit attributable to shareholders would be between 131 billion yuan and 132.5 billion yuan for January through September, versus a 5.28 billion yuan net loss in the same window a year earlier. The filing also pegged 131 billion yuan at $19.58 billion.
The company put revenue for the span at roughly 265-270 billion yuan, indicating year-over-year growth between 232.9 billion yuan and 237.9 billion yuan. A quote panel showed 41.52 CNY, unchanged, with the last trade on Oct. 19, 2026, and noted that data was delayed.
CXMT attributed the step change to a surge in demand for AI computing capacity that began in the second half of 2025. That wave lifted the global DRAM market, tightened supply, and pushed prices up meaningfully.
Despite the upbeat guidance, chip stocks have been soft over the past week amid worries about how artificial intelligence will be financed. Some experts also warned that a chip oversupply could emerge in a couple of years.
CXMT has been taking share in memory, going up against Samsung Electronics, SK Hynix and Micron Technology. According to Counterpoint Research last month, CXMT captured 10% of global DRAM sales in Q3 2026, versus 5% a year before.
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A profit pivot of this size, paired with rising DRAM prices and share gains, underlines how AI demand is reshaping memory economics. The flip side is clear too: sector-wide pressure tied to AI funding questions and the risk of a future glut could inject volatility into earnings expectations and valuations.
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