Chinese memory manufacturer CXMT was the fastest-growing memory company in the world in the second quarter, according to the latest data from Counterpoint Research. Like China's Semiconductor Manufacturing International Corporation (SMIC), CXMT has also shaped up to become a key player in the country's bid to develop semiconductor self-sufficiency. However, unlike SMIC, it is also capable of manufacturing the most advanced memory chips, with multiple reports claiming progress in being able to manufacture LPDDR6 memory chips.

Counterpoint's research outlines that during the second quarter of 2026, Samsung made a comeback in the global DRAM market. The firm's revenue as a percentage of the market sat at 39% during the quarter to make it the largest DRAM memory manufacturer in the world. The gain came at the expense of SK hynix, whose share dropped by 13 percentage points annually to sit at 26%. According to Counterpoint, the dip occurred despite SK hynix's revenue surging by 214% annually during the quarter.

Crucially, Micron almost caught up to SK hynix when it comes to market share. The details show that its market share sat at 25% during the quarter as it almost overtook hynix to become the world's second largest DRAM supplier in terms of revenue. DRAM is a key component of the AI market as multiple layers are bonded together to create high-bandwidth memory (HBM) used in advanced AI GPUs.

As for CXMT, the Chinese memory company was the fastest-growing DRAM memory manufacturer in the world, says the research firm. During the second quarter, CXMT's DRAM revenue grew by a strong 716% annually. It was followed by Taiwan's Nanya Technology, whose revenue jumped by 690% in the quarter. The details suggest that the reason behind CXMT being the world's fastest DRAM supplier was strong domestic demand in China and capacity expansion.

After its IPO earlier this year, CXMT is interested in aggressively expanding its memory production capacity. Reports have suggested that the firm is in the early stages of building a new manufacturing facility in Beijing. Additionally, consumer electronics giant Apple is also interested in procuring memory chip supply from CXMT due to the broader tightness in the market, which has forced it to raise product prices.

Counterpoint's Vice President of Research, Neil Shah, linked the capacity expansion to CXMT potentially being able to reshape the global memory industry's landscape. Taking an optimistic tone, the executive stated that "the question is not about ‘how’ but ‘when’ CXMT will be able to break into the Big Three Memory Club.”

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