Japanese memory chipmaker Kioxia is preparing to list its shares on a U.S. exchange. This strategic move aims to expand the company's investor base and increase corporate value.
Operating profit rose 92.7% to 870.4 billion yen for the fiscal year ended in March. Kioxia forecasts an operating profit of 1.3 trillion yen ($8.2 billion) for the April-June quarter.
The artificial intelligence boom is driving a massive surge in demand for memory chips used in servers. This turnaround follows a period of market volatility and several previously shelved IPO attempts.