US listing could put Japan’s Kioxia in global AI spotlight, Voya’s Thomas says

A plan by Kioxia to list shares in the United States could put the Japanese chipmaker back into the global investment spotlight, said the lead manager of a $14 billion AI-focused fund.

Kioxia, whose 456% surge this year leads gains on the benchmark Nikkei 225 ‌index, said ⁠in May ⁠it was making preparations to list American depositary Shares (ADS) to grow its investor ​base.

The company is not a part of Voya Investments’ Global Artificial Intelligence fund, which includes $5 billion in Japanese money, nor are any of the tech firms that have fuelled the Nikkei’s gains.