CXMT and Tencent reportedly reach $2.94 billion DRAM supply agreement

According to a Reuters report, Chinese DRAM maker CXMT (ChangXin Memory Technologies) has signed a long-term supply agreement worth more than RMB 20 billion ($2.94 billion) with Chinese internet giant Tencent Holdings, ahead of CXMT’s planned listing on Shanghai’s STAR Market. Citing three people familiar with the matter, the multi-year agreement will secure the supply of DRAM chips for Tencent’s server business, making it one of the largest procurement commitments in recent years between a dome