Chipmaker Kioxia reports AI-driven 45-fold surge in quarterly net profit

Tokyo: Ferocious AI-driven demand delivered quarterly net profit more than 45 times higher than last year’s figure for Japanese chipmaker Kioxia, the company said Friday.

The global race to build artificial intelligence data centres has turbocharged business for chipmakers — sending prices soaring for memory components in particular.

Kioxia specialises in so-called NAND flash chips, an increasingly hot commodity as AI agents — tools that carry out real-life tasks for users — require ever-more storage space.