Reuters: Tencent signs long-term supply agreement with Changxin Memory, contract value exceeds 20 billion yuan.

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BlockBeats News, June 29, according to Reuters, three informed sources revealed that Chinese memory chip manufacturer ChangXin Memory Technologies (CXMT) has signed a long-term supply agreement with Tencent Holdings, with a contract value exceeding 20 billion yuan (approximately $2.94 billion). This significant order was reached before CXMT's highly anticipated initial public offering (IPO).

The informed sources stated that the agreement covers the supply of server DRAM chips for several years. Two of the sources said the contract term is up to 3 years, while another said it could be up to 5 years. Since the relevant information is confidential, all three sources requested anonymity.

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