Kioxia Files for October IPO Amidst AI-Driven Chip Demand

Kioxia, a Japanese chip manufacturer, has officially filed for an initial public offering on the Tokyo Stock Exchange, aiming for October. This long-awaited IPO comes amidst a surge in semiconductor demand driven by the growth of artificial intelligence. The company`s valuation is projected to surpass $10 billion. This move aligns with increased government backing for chip industry investments, prompted by global uncertainty and the need to secure a stable supply of these essential components.