<\/p>\n
A Chinese memory chip company just had one of the biggest stock market debuts in history \u2014 and it\u2019s setting off alarm bells in Washington.\n<\/p>\n
\u00a0<\/p>\n
The company is called CXMT, short for ChangXin Memory Technologies. On Monday, its stock price shot up 466% on the Shanghai exchange, raising $8.6 billion in a single day and making it the most valuable company on any mainland Chinese exchange. That\u2019s a market value of nearly $500 billion \u2014 comparable to some of America\u2019s biggest corporations.\n<\/p>\n
Top US lawmakers want the Trump administration to launch a formal national security probe into Chinese memory chipmaker CXMT on suspicions that Beijing orchestrated the company\u2019s blockbuster IPO to prop up a key military asset, The Post has learned.\n<\/p>\n
Shares for the China-based chipmaker, also known as ChangXin Memory Technologies, skyrocketed 466% in Shanghai trading on Monday \u2014 raising $8.6 billion and instantly making the firm the most valuable on a China mainland exchange with a market capitalization of nearly $500 billion.\n<\/p>\n
Beijing\u2019s historic windfall \u2014 which sent shares of US chipmakers tumbling on competition fears on Monday \u2014 is setting off alarm bells in Washington, with a bipartisan group of at least a half-dozen members of Congress expected to send letters to the Trump administration in the coming days, sources close to the situation told The Post.<\/p>\n
Here\u2019s why this matters beyond the stock market: Just six weeks before this IPO, the Pentagon added CXMT to its official list of Chinese military companies. That list identifies firms believed to be working \u2014 directly or indirectly \u2014 in support of China\u2019s military. Now U.S. officials are asking whether Beijing engineered this massive stock offering to flood a military-linked company with cash before Washington could act to stop it.\n<\/p>\n
CXMT makes a type of chip called DRAM \u2014 the memory chips found in smartphones, laptops, electric vehicles, and AI data centers. While the company hasn\u2019t yet matched the most advanced chips made in South Korea or the U.S., it has rapidly grown its global market share by producing older, more basic chips that face fewer trade restrictions. That\u2019s the core of the concern: these chips are already embedded in products used around the world, including potentially in U.S. military supply chains. Officials worry they could be used for surveillance or sabotage in a future conflict. The Wall Street Journal has reported that even Apple has lobbied the U.S. government to be allowed to buy chips from CXMT due to supply shortages driven by the AI boom \u2014 a sign of just how deeply the company has already worked its way into global technology.\n<\/p>\n
This story is a reminder that the struggle for freedom and security plays out not just on battlefields, but in boardrooms and supply chains. Proverbs 27:12 says, \u201cA prudent person foresees danger and takes precautions.\u201d Christians are called to pray for those in authority \u2014 that our leaders would have wisdom to recognize real threats, courage to act, and discernment to protect the nation without being driven by fear or politics.\n<\/p>\n
(Excerpt from the New York Post. Photo Credit: Andrey Matveev\/pexels)<\/p>\n","protected":false},"excerpt":{"rendered":"
A Chinese memory chip company just had one of the biggest stock market debuts in history \u2014 and it\u2019s setting off alarm bells in Washington. Connect with others in your state in prayer. \u00a0 The company is called CXMT, short for ChangXin Memory Technologies. On Monday, its stock price shot up 466% on the Shanghai<\/p>\n","protected":false},"author":1,"featured_media":30876,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[2961,3580,512,4678,7325,3244,10279,2978],"class_list":["post-30875","post","type-post","status-publish","format-standard","has-post-thumbnail","category-prayer","tag-alarm","tag-billion","tag-chinas","tag-chip","tag-giant","tag-raised","tag-sounding","tag-washington"],"_links":{"self":[{"href":"https:\/\/biblelon.com\/index.php?rest_route=\/wp\/v2\/posts\/30875","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/biblelon.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/biblelon.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/biblelon.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/biblelon.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=30875"}],"version-history":[{"count":0,"href":"https:\/\/biblelon.com\/index.php?rest_route=\/wp\/v2\/posts\/30875\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/biblelon.com\/index.php?rest_route=\/wp\/v2\/media\/30876"}],"wp:attachment":[{"href":"https:\/\/biblelon.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=30875"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/biblelon.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=30875"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/biblelon.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=30875"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}