Memory maker Kioxia sees $8.2 billion Q1 profit on AI boom

TOKYO: Japanese memory chipmaker Kioxia said on Friday it expected operating profit for the April-June quarter to reach 1.3 trillion yen ($8.20 billion) as the artificial intelligence boom boosts ‌chip ⁠demand.

⁠The maker of NAND flash memory chips reported operating profit rose 92.7% to 870.4 billion yen in the year ended March, beating estimates.

Kioxia said it is preparing to list American ⁠depositary shares on ‌a U.S. exchange to grow its investor base.