Kioxia's AI‑Focused NAND Launch Pushes Market Value Over $250 bn, Surpassing Toyota

Japanese semiconductor firm Kioxia announced the start of sample shipments for its 10th‑generation BiCS Flash NAND memory, developed jointly with SanDisk and produced at the Kitakami Fab2 plant in Iwate. The new NAND targets the surge in AI‑inference workloads, where high‑capacity storage is critical.

Kioxia’s share price has risen more than seven‑fold this year, lifting its total market capitalization above $250 billion and overtaking automotive giant Toyota. CEO Hiroo Ota said the company is expanding capacity at the Kitakami facility and plans a stock split to make shares more accessible. Kioxia also aims to list on a U.S. exchange (NYSE or NASDAQ) in the first quarter of fiscal year 2027.

The move comes as rival SK Hynix prepares its own U.S. IPO to fund AI‑related investments, highlighting growing competition in the AI‑driven memory market.