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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
With growing demand for memory chips in data centers amid the AI race, China's CXMT has reportedly signed a $3 billion DRAM supply pact with Tencent. The deal aims to secure memory supply for Tencent's expanding data centers, supporting its cloud and AI services growth.
The pact comes as memory prices fluctuate. Tencent's Hong Kong-listed stock (0700.HK) closed at HKD 420.2 on June 29, 2026, while its US ADR (TCEHY) ended at $53.2 on June 26, per market data. The agreement secures supply for Tencent's growing data centers, bolstering its AI expansion.
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Sign InInvestors will watch for further details on the agreement's impact on Tencent's margins. Technically, support for 0700.HK stands at HKD 415 (session low) and resistance at HKD 432 (session high). Near-term, no major catalysts are on the economic calendar, but industry demand trends remain supportive for the sector.