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From CXMT to Zhipu: How Alibaba’s investment pays off with a growing AI and chip portfolio
ChangXin Memory Technologies (CXMT) and Zhipu AI have not only seen their share prices skyrocket, but they have also handed a windfall to their common backer: Alibaba Group Holding. Before the listing of China’s memory-chip giant on Monday, Alibaba owned nearly 5 per cent of CXMT, making it the chipmaker’s largest industrial shareholder, according to the prospectus. Alibaba has invested about 7.6 billion yuan in CXMT since 2021. Based on Tuesday’…
