STEVE LOHR2026年7月28日中国最大的内存芯片制造商长鑫存储位于合肥的总部。 Agence France-Presse — Getty ImagesShares in China’s leading memory chipmaker soared about 470 percent on its first day of trading on Monday, quickly making it the most valuable company on the Shanghai stock exchange.周一，中国存储芯片制造龙头企业的股价在上市首日交易中飙升约470%，迅速成为上海证券交易所市值最高的公司。ChangXin Memory Technologies, known as CXMT, had already completed Asia’s largest initial public offering this year, which two weeks ago valued the company at more than $85 billion.长鑫存储技术有限公司（简称CXMT）此前已完成今年亚洲最大规模的首次公开募股(IPO)，两周前该公司的估值超过850亿美元。Investors catapulted the chipmaker’s valuation on the Shanghai stock exchange to more than $480 billion at closing. That is well ahead of the Industrial and Commercial Bank of China, the previous biggest company, which is valued at about $385 billion.投资者将这家芯片制造商在上海证券交易所的市值推高至收盘时的4800多亿美元。这远远超过了此前市值最大的公司——估值约为3850亿美元的中国工商银行。Trading in CXMT shares opened at 49.50 renminbi, up from its I.P.O. price of 8.66 renminbi. The closing price was 49.00 renminbi.长鑫存储股票开盘价为49.50元人民币，高于其8.66元人民币的IPO发行价。收盘价为49.00元人民币。The stellar trading start followed global volatility and a recent sell-off in tech stocks. Investors have questioned the stratospheric valuations of Silicon Valley companies that are making enormous investments to pursue the development of artificial intelligence.这一亮眼的交易开局是在全球市场波动和近期科技股抛售之后出现的。为了追求人工智能的发展，一些硅谷公司进行了巨额投资，而投资者对这些公司极高的估值提出了质疑。CXMT, a decade-old company little known outside its homeland, is a linchpin in China’s drive to nurture homegrown suppliers to reduce its dependence on foreign companies in the race for A.I. leadership. And it is an ascendant Chinese chipmaker at a time of increasing tension between the United States and China, and anxiety in America that China is catching up fast.成立十年的长鑫存储在海外鲜为人知，但它是中国致力于培育本土供应商、在争夺人工智能领导地位的竞赛中减少对外国公司依赖的关键力量。在美中紧张局势不断加剧，美国担忧中国正在迅速赶上的时期，它正成为一家正在崛起的中国芯片制造商。The global race to dominate A.I. has generated a boom in demand for memory chips, which instantaneously shuttle data to and from the processing engines of computers. All computers rely on memory chips, but the demands of massive A.I. data centers being built in the United States and China are all but limitless. As demand has soared, so have prices.人工智能领域的全球霸主之争催生了对存储芯片的旺盛需求，这些芯片能瞬间将数据在计算机的处理引擎之间进行传输。所有计算机都依赖存储芯片，但在美国和中国正在建设的大型人工智能数据中心对存储芯片的需求几乎是无限的。随着需求激增，价格也水涨船高。CXMT’s revenue jumped to nearly $7.5 billion in the first quarter of 2026, up more than 700 percent from a year earlier, according to its I.P.O. prospectus. And the company posted a profit of more than $1 billion last year, up from a loss of $2.8 billion in 2023.根据其IPO招股说明书，长鑫存储在2026年第一季度的营收跃升至近75亿美元，同比增长超过700%。此外，该公司去年实现了超过10亿美元的利润，而2023年则亏损了28亿美元。CXMT is beginning to make inroads in the global memory market, which is dominated by two South Korean companies, Samsung Electronics and SK Hynix, and an American company, Micron Technology. CXMT held 8 percent of the global market in the first quarter of 2026, compared with 3 percent a year earlier, according to Counterpoint Research, a tech market research firm.长鑫存储正开始进军全球存储芯片市场，该市场目前由韩国公司三星电子和SK海力士以及美国公司美光科技主导。据科技市场研究公司Counterpoint Research的数据，长鑫存储在2026年第一季度占据了全球市场8%的份额，去年同期这一比例为3%。Two weeks ago, SK Hynix raised $26.5 billion by selling American depositary receipts, in the largest share sale on Wall Street by a non-U.S. company.两周前，SK海力士通过出售美国存托凭证筹集了265亿美元，这是非美国公司在华尔街进行的规模最大的一次股票发售。Steve Lohr撰写关于科技及其对经济、就业和劳动市场的影响的文章。翻译：纽约时报中文网点击查看本文英文版。