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 (Reuters)

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.