Kioxia Plans October IPO to Raise $500 Million Amid AI Boom

Aug 23, 2024, 05:04 AM

Japanese chipmaker Kioxia has filed for an initial public offering (IPO) on the Tokyo exchange, aiming for a debut in October. This move comes amid a surge in demand for semiconductors driven by advancements in artificial intelligence (AI). The IPO is expected to raise approximately $500 million, according to sources familiar with the matter. The listing marks a significant step for Kioxia, as it capitalizes on the booming AI sector to bolster its market presence.