Kioxia Market Cap Tops $250 Billion on AI Memory Demand

Kioxia Holdings will hold a ceremony Friday at its fabrication plant in northern Japan as it prepares to mass produce next-generation memory, The chipmaker's shares have surged more than sevenfold this year, pushing its market capitalization above $250 billion and surpassing Toyota Motor. Formerly Toshiba Memory, Kioxia was acquired from Toshiba by a Bain Capital-led consortium in 2018 for 2 trillion yen ($12 billion),