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Deep Tide TechFlow news, June 29 - According to a Reuters report, three sources revealed that Chinese memory chip maker Changxin Memory (CXMT) has signed a long-term supply agreement with Tencent Holdings, with a contract value exceeding 20 billion yuan (approximately $2.94 billion). This major order was reached ahead of Changxin Memory's highly anticipated initial public offering (IPO).
The sources said 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 information is confidential, all three sources requested anonymity.