Hyperliquid Launches CXMT Pre-IPO Token Market Pricing Chip Maker at $560B
A new pre-IPO perpetual contract market for Chinese memory chipmaker CXMT has opened on the Hyperliquid exchange, with trading prices reaching $8.40 per token. That pricing implies a $560B market valuation for the company as it prepares for its official public listing.
The pre-IPO price exceeds the official listing price of 8.66 yuan ($1.28), which values CXMT at $85B. Traders have already stacked roughly $11.5M in buy orders between $6 and $7.20, including a $75.4M leveraged position opened by a single wallet. The official A-share listing carries no daily price limits for the first five trading days.
From the sources (12 posts)
@poezhao0605China's largest domestic DRAM maker pays R&D graduates $51K a year. One former engineer told Yicai he averaged 70 to 80 hours of unpaid overtime a month. Last three years and colleagues call you a "veteran."
@poezhao0605CXMT, the DRAM chipmaker, doubled headcount to 19,300 in two years. 63% under 30. When one engineer started, most R&D colleagues held master's degrees. By the time he left, 80% around him were PhDs.
@poezhao0605The founder of China's largest DRAM chipmaker pledged shares worth an estimated $2.9 billion to a staff incentive pool. He excluded himself from the recipients. But a former engineer told Yicai the company never mentioned equity during his
@poezhao0605CXMT, China's #4 DRAM maker, opens its $4.3B STAR Market IPO on July 16. Second-largest in the exchange's history. This Yicai investigation is the most granular look I've seen at the human cost of building a domestic DRAM industry from scr
@zephyr_z9Who the hell priced the CXMT IPO??? They are IPOing at just $80B market cap (revenue will be in the $50B-$60B range this year at 75% GM, next year over $120B) Is there a way to get in??
@zephyr_z9🤣🤣🤣🤣
@jukan05🔥🔥🔥 CXMT’s STAR Market IPO: There will be no daily price limit for the first five trading days after listing. The usual ±20% limit will apply starting from the sixth trading day. Oh shit, it’s time to witness the full madness of Chinese re
@jukan05CXMT LIVE IN HYPERLIQUID
@lookonchainCXMT ($CXMT) is set to list on China's A-share market at an IPO price of 8.66 RMB (~1.28 USD). We spotted $5.93M in buy orders at $7.2 and another $5.58M in buy orders at $6.
@zephyr_z9So CXMT is trading at $8.4 on Hyperliquid rn Basically implies a $560B market cap They are officially listing at $85B
@lookonchainA mysterious whale with $75.4M is long on $CXMT! He opened a 5x long on 20,000 $CXMT($164K) at $6 and is already up $44K. He also placed limit orders to add more to his $CXMT long position between $5.8 and $7.2. h
@hyperliquidxRT @tradexyz: The Pre-IPO Perpetual (IPOP) Market for CXMT is now live. CXMT is a pre-IPO market reflecting the market-implied value of 1…