China’s memory chipmaker targets denser DRAM technology.

  • CXMT plans to introduce new DDR5 server-memory products by the end of 2026.
  • CXMT’s fifth-generation DRAM manufacturing platform entered mass production last month, narrowing the gap with established memory chipmakers.
  • Retail sentiment remained bullish on Stocktwits for both Micron and SK Hynix despite the declines.

Micron Technology Inc. (MU) and SK Hynix shares dipped as China’s ChangXin Memory Technologies (CXMT) reported progress on a next-generation DRAM architecture that could help it compete with the world’s leading memory chipmakers.

CXMT plans to introduce a new server-memory product based on the technology by the end of 2026, company president Cao Kanyu said at an industrial event in Shanghai over the weekend, according to a report by the South China Morning Post.

The development comes as U.S. semiconductor stocks face renewed pressure following a strong rally this year, with investors booking profits and reassessing the sustainability of AI infrastructure spending. Concerns over OpenAI’s revenue outlook have also weighed on the sector.

MU dipped 1% in overnight trading ahead of Monday, while SK Hynix shares fell 0.8% in local trading hours.

CXMT Advances 4F Square DRAM Technology

At the heart of CXMT’s development is the “4F square” cell design, which aims to increase storage density by fitting more memory cells onto a single chip. Mainstream commercial DRAM currently uses a 6F square structure.

The transition to 4F square requires moving from horizontal to vertical transistor channels, which demands substantial changes to existing manufacturing processes.

CXMT said its proprietary Vertical Surrounding Gate transistor architecture addresses current leakage while reducing the area occupied by individual memory cells, potentially improving storage density and power efficiency.

SK Hynix unveiled its roadmap for 4F square technology in 2025. Samsung, meanwhile, plans to mass-produce sub-10-nanometer DRAM based on the design by 2028, according to the SCMP report.

China’s Memory Ambitions Gather Pace

CXMT said it expects to release a new generation of DDR5 registered dual in-line memory modules (RDIMMs) for enterprise servers by year-end. The company did not disclose detailed specifications or an exact launch date.

The latest development adds to CXMT’s efforts to narrow the technological gap with established memory producers. Last month, CXMT announced that its fifth-generation DRAM manufacturing platform, known as G5, had entered mass production.

CXMT made a record-breaking debut on the Shanghai Stock Exchange in July, with shares surging 466% on their first trading day after its $8.6 billion IPO, the largest mainland Chinese semiconductor offering on record.

Retail View On Chip Stocks

On Stocktwits, the retail sentiment was ‘bullish’ for MU and SKHY as of early Monday.

”RAM So the sell off seems to be the typical CXMT "trust me brah" where they said they "made advancements" in 4F2 memory.  Basically putting more memory on things like server RDIMM. No product seen or tested, they don't have the tools to do what they say,” a trader wrote.

“Intersting because CXMT is in $DRAM and $RAM ETF their own stock crashed with the Korean junk market.”

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