Japan’s Kioxia forecasts 31-fold profit surge as tech shares swing

Chip supplier's July-September outlook falls short of analyst estimates Demand for NAND flash memory, the core product of Kioxia Holdings, is on the rise as U.S. tech companies expand data center capacity. (Photo by Shintaro Ino) TOKYO — Kioxia Holdings on Friday forecast a 31-fold increase in quarterly net profit, supported by strong demand for artificial intelligence data centers, even as its share price has tumbled on concerns that big tech firms are overinvesting in the infrastructure.

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