Chinese chipmaker CXMT experienced a dramatic market debut, with shares surging 466% on their first day of trading in Shanghai. This made it mainland China's largest IPO since 2010, briefly becoming the country's most valuable listed company. Based in Hefei, CXMT is a key player in China's AI supply chain, specializing in DRam chips used in data centers.

The company raised $8.5 billion from selling shares, signaling strong investor appetite driven by the AI boom. "We knew it was going to be a big IPO," commented Tilly Zhang of Gavekal Dragonomics, "Still, it’s surprising how people have been so enthusiastic."

Amidst this surge, broader concerns about Big Tech's AI spending are rising. Other news includes Nvidia's investment in AI startup Safe Superintelligence, Shein's first-quarter net loss, and Amazon's plans for a satellite constellation for mobile services. India's "cockroach" protests have also inspired critics of Prime Minister Narendra Modi.