Kioxia Holdings shares are seeing heavy buying activity after the Japanese memory-chip maker reports a sharp profit increase tied to demand linked to AI data centers. Bloomberg reports that the company’s shares were effectively untraded at the start of the session because they were “awash” in buy orders, following the earnings announcement and a guidance update that exceeded expectations. The Japan Times similarly says Kioxia’s results are being driven by AI-related demand and that investor interest is reflected in the volume of orders.
Kioxia tells the market it expects operating profit of ¥1.3 trillion for the June quarter, which the Japan Times frames as a figure higher than the record operating profit the company earned for the full year ended March. Together, the reports indicate both a strong recent performance and an outlook that points to continued profitability gains, prompting buyers to move ahead of the company’s next reporting period.
