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🚨Reuters: Tencent and Changxin Memory Technologies Sign Long-Term Supply Agreement Worth Over 20 Billion Yuan
June 29, according to Reuters, three sources familiar with the matter said that Chinese memory chip maker 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 U.S. dollars). This major order was reached ahead of CXMT's highly anticipated initial public offering (IPO).
The sources said the agreement covers the supply of server DRAM chips over several years. Two of the sources said the contract term is up to three years, while another said it could be up to five years. The three sources requested anonymity as the information is confidential.