The Great Transformation: Here's 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, while Tencent stands at about $510 billion. 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...