China's CXMT Claims Memory Breakthrough Ahead of Samsung, Hynix

China's CXMT Corp. said it achieved a chip technology breakthrough that rivals Samsung and SK hynix pursued for years. The unsubstantiated claim jolted memory stocks and highlights China's aggressive push into the sector.

• CXMT claims memory breakthrough ahead of Samsung and SK hynix
• The claim is not backed by evidence
• The news jolted memory chip stocks
• China escalates its push into the memory market