The Great Transformation: Why Memory and Robots are Ushering China's Tech Giants from Their Thrones!

A power shift is occurring in China's capital markets. Overnight, a memory chip manufacturer from the province has risen to become the most valuable publicly traded company in the country, displacing longtime leader Tencent. CXMT is now valued at approximately 524 billion USD, while Tencent stands at about 510 billion USD. A fund manager summed up the new logic in four words: Chips are the new clicks. Underlying this is a tectonic shift. Capital is flowing away from the internet giants of the mobile era and toward hardware companies that align...