Kioxia Holdings' market capitalization exceeded ¥30 trillion on Friday. Shares rose over 3% during the session, establishing the company as Japan's fourth-largest listed firm.
The valuation follows a forecast for a 48-fold increase in net profit for the April-June quarter. Soaring demand for memory chips in AI data centers drives this growth.
Trading was halted earlier this week after the stock hit its daily limit up due to excessive buy orders. Analysts have significantly increased revenue and earnings estimates following the profit projections.