China’s memory-chip maker CXMT made a blockbuster stock market debut with shares surging 465%, while Nvidia remained in focus amid reports of a potential financing role in OpenAI’s data center expansion.
US President Donald Trump said the United States and Iran were engaged in talks to end the conflict despite continued regional tensions, and gold gained while oil prices tumbled as easing hostilities shifted investor focus to this week’s Federal Reserve meeting.
CXMT debut rewrites China’s stock market rankings
ChangXin Memory Technologies (CXMT) surged 465% in its Shanghai stock market debut on Monday, briefly becoming mainland China’s most valuable listed company.
The stock opened at 49.50 yuan, almost six times its IPO price of 8.66 yuan, lifting its market capitalization to about 3.3 trillion yuan, or roughly $487 billion, ahead of Industrial and Commercial Bank of China.
CXMT raised 57.92 billion yuan (about $8.6 billion) in what was Asia’s largest initial public offering of 2026.
The proceeds could increase if an over-allotment option is exercised.
The company is the world’s fourth-largest producer of dynamic random-access memory (DRAM), holding an estimated 7.7% market share in 2025 behind Samsung Electronics, SK Hynix and Micron.
Its memory chips are used in smartphones, personal computers and AI-enabled cloud servers, making it central to Beijing’s effort to reduce dependence on overseas semiconductor suppliers.
However, only 6.73% of CXMT’s enlarged share capital was freely tradable on listing because most shares remain locked up.
The limited free float reduced available supply and may have amplified the sharp first-day rally.
Nvidia weighs OpenAI financing as AI partnerships expand
Nvidia shares declined about 5% on Monday even as the company remained at the center of several major artificial intelligence developments.
According to a Wall Street Journal report, Nvidia is in discussions to support as much as $250 billion in financing for OpenAI’s planned Ohio data center project being developed by SoftBank’s energy subsidiary. Neither Nvidia nor OpenAI immediately commented on the report.
Separately, Nvidia announced a $500 billion agreement with South Korean memory-chip maker SK Hynix to secure long-term supplies of AI memory.
The company also expanded its partnership with Siemens to develop self-verifying agentic AI workflows.
The stock came under pressure alongside other semiconductor companies after reports that a state-backed Chinese company had begun mass production of chip-making equipment, adding to concerns about growing competition in the semiconductor industry.
Trump says US and Iran are holding talks
President Donald Trump said Monday that the United States and Iran were engaged in discussions aimed at ending the conflict, while warning that military action could resume if diplomacy failed.
“The only reason they want to meet is because we’ve been hitting them very hard,” Trump told reporters aboard Air Force One. “There’s a good chance that something could happen, and if it does good. If it doesn’t, we go back to doing what we were doing.”
Iran’s Foreign Ministry said no formal negotiations were taking place, although it acknowledged mediators could be exchanging messages between the two sides.
Meanwhile, Oman and Iran continued discussions on restarting shipping through the Strait of Hormuz.
Regional tensions remained elevated as Yemen’s Iran-backed Houthis claimed attacks on Saudi oil facilities, while Saudi Arabia said it intercepted drones targeting petroleum infrastructure.
Gold rises while oil slides on easing tensions
Gold prices advanced Monday while oil prices recorded their steepest decline in more than a week after the United States paused air strikes against Iran over the weekend, easing immediate inflation concerns ahead of this week’s Federal Reserve meeting.
Spot gold rose 0.88% to $4,088.16 per ounce, while US gold futures settled 0.45% higher at $4,089.
Brent crude settled down $8.74, or 9.03%, at $88.04 a barrel, while West Texas Intermediate crude fell $7.02, or 7.86%, to $82.28, both reaching their lowest settlement levels in more than a week.
Investors are now awaiting the Federal Reserve’s interest rate decision on Wednesday.
According to the CME FedWatch Tool, traders see a 62% probability that policymakers will leave interest rates unchanged this week.
However, markets continue to price in an 82% chance of a 25-basis-point rate hike at the Fed’s September meeting.
The post Evening digest: CXMT debuts with 465% surge, Nvidia eyes OpenAI deal appeared first on Invezz
