SemiAnalysis forecasts that ChangXin Memory Technology (CXMT) will surpass Micron to become the world’s third‑largest DRAM supplier by the end of 2026, up from its current #4 position. The company posted ¥50.8B ($7.1B) in Q1 2026** revenue, up 719% YoY, with full‑year 2026 projected to exceed **$50B . Gross margin approached 70% in Q1, compared to 41% for full‑year 2025.
CXMT’s global DRAM market share rose to 8% in Q1 2026 (from 3% a year earlier), as the overall DRAM market expanded 80% QoQ and 260% YoY. Monthly 12‑inch wafer capacity is set to reach 350K by end‑2026 and 500K by 2028 , boosting its global share from 11% in 2025 to 17% .
On the HBM front, CXMT currently has just 5K wafers/month in HBM capacity with yields still improving, but SemiAnalysis projects 100K wafers/month by 2028 , or roughly 12% of global HBM supply.
ICgoodFind: CXMT’s revenue and share trajectory are accelerating – but HBM remains the key test for its next growth leg.
