Kioxia Holdings has surpassed Toyota Motor to become Japan’s most valuable company by market capitalization.
The chipmaker’s shares rose approximately 7.6% on Friday. This surge elevated Kioxia's market value to over ¥44 trillion, or roughly $274 billion.
Kioxia’s stock has climbed more than 670% this year. It currently ranks as a top performer on the MSCI World Index.
Soaring demand for AI data center memory chips fueled the historic rise. The shift underscores a broader investor rotation into semiconductor and AI-related stocks.