Kioxia Holdings shares were halted by a surge in buy orders following record profit reports. The company's outlook significantly exceeded market expectations amid intense global demand for AI infrastructure.
The Tokyo-based firm forecasts an operating profit of ¥1.3 trillion ($8.2 billion) for the June quarter. This single-quarter projection exceeds the record profit earned during the entire previous fiscal year.
NAND memory chip prices more than doubled over the last quarter. Kioxia is now negotiating long-term contracts with major data center clients to secure supply for 2027 and 2028.
The performance signals continued high capital expenditures from global cloud and AI companies. These results reinforce bullish sentiment for the broader semiconductor ecosystem and AI accelerator suppliers.