Svmuu News: According to a Reuters report, three sources familiar with the matter revealed that Chinese memory chip manufacturer Changxin Memory Technology (CXMT) has signed a long-term supply agreement with Tencent Holdings, with the contract valued at more than 20 billion yuan (approximately $2.94 billion).This major order was secured ahead of Changxin Memory’s highly anticipated initial public offering (IPO).
The sources said the agreement covers the supply of server DRAM chips over the next several years. Two of the sources said the contract term is up to three years, while another said it could be as long as five years. As the information is confidential, all three sources requested anonymity.