(Bloomberg) -- Investor excitement over the memory chip trade is setting outsize expectations for the Shanghai debut of CXMT Corp., which is on the brink of making history after a near-record initial public offering. Most Read from BloombergThe company formerly known as ChangXin Memory Technologies Corp. is poised to become the biggest China-listed firm on its very first day of trading after raising 66.6 billion yuan ($9.8 billion). Valuation multiples, a well oversubscribed IPO and shadow market bets all point in the direction of a debut pop that could boost the company's market value several times above the initial 580 billion yuan. China's homegrown champion is tapping into the voracious appetite for the memory chip story, a fulcrum of the global artificial intelligence buildout. Hefei, Anhui-based CXMT is buttressed by retail investor demand, attractive valuations, and renewed signs of state-backed support for markets.