Citi Sees Limited CXMT DRAM Supply Impact Before 2028
Citi says CXMT's planned 4F² DRAM architecture could raise memory density by about 30% versus current 6F² designs, but mass production is unlikely before 2028. It cites technology four generations behind industry leaders, limited EUV access and potentially 10–20% higher manufacturing costs as constraints.
Citi considers concerns that China’s CXMT could disrupt global DRAM supply overstated, with limited impact expected before 2028. CXMT’s planned 4F² DRAM architecture could raise memory density by ~30% compared with current 6F² designs. Citi says mass production is unlikely before 2028, as CXMT’s legacy manufacturing technology is four generations behind industry leaders. Limited access to EUV and potentially 10—20% higher manufacturing costs could constrain CXMT’s competitiveness and its effect on global supply.