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Reuters ·

CXMT reports Q3 revenue of ~$16.7B, up 613.2% YoY, and a net profit of ~$8.17B, swinging to profitability on the back of rising AI-driven memory chip prices

China's CXMT (688825.SS) said on Friday it swung to a net profit in the third quarter as surging AI-driven demand drove prices higher for its memory chips.

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CXMT reports Q3 revenue of ~$16.7B, up 613.2% YoY, and a net profit of ~$8.17B, swinging to profitability on the back of rising AI-driven memory chip prices

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Reuters — CXMT reports Q3 revenue of ~$16.7B, up 613.2% YoY, and a net profit of ~$8.17B, swinging to profitability on the back of rising AI-driven memory chip prices ↗

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