According to ME News, on July 24 (UTC+8), Beating Monitor reported that Reuters, citing sources familiar with the matter, stated that CXMT has signed a five-year supply agreement worth over $7 billion with ByteDance. Previously, CXMT also reached a supply agreement worth over $3 billion with Tencent. Combined, these two deals exceed $10 billion, as China’s major internet giants secure long-term, large-volume orders to lock in memory supply amid the rapid expansion of AI data centers. (Source: BlockBeats)
CXMT Signs Supply Agreements Exceeding $100 Billion with ByteDance and Tencent
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Summary
CXMT announced $7 billion in deals with ByteDance and $3 billion with Tencent for memory supply over five years, fueled by AI and crypto news trends. The agreements, totaling over $100 billion, aim to secure resources as AI data centers expand. Inflation data remains a key factor in global tech investment decisions.
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