Chinese chipmaker shares surge 470%

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• CXMT shares jumped as much as 470% in its Shanghai debut, giving the memory chipmaker a ~$487B market cap, making it the most valuable China-listed company
• CXMT's stock closed up 466% in its Shanghai debut, giving the Hefei-based memory chipmaker a ~$487B market cap, making it the most valuable China-listed company
• Sources: Nvidia is in talks to provide a ~$250B backstop for OpenAI as part of a 10 GW data center project that SoftBank's energy subsidiary is building in Ohio
• Bringing PyTorch Monarch to AMD GPUs
• Nvidia and SK Group unveil a $500B+ AI initiative that includes an SK Hynix partnership to secure next-gen memory supply for Nvidia and joint development of HBM