Kioxia Holdings Operating Profit Soars on Surging AI Data Storage Demand

Deep News10-30 20:14

Operating profit at Tokyo-based Kioxia Holdings surged 22-fold, driven by data center operators willing to pay high prices for flash memory chips, and the company also announced an interim dividend.

The rival to Samsung Electronics, SK Hynix, and Micron Technology said it posted operating profit of 1.99 trillion yen ($12.7 billion) in the quarter ended September, in line with the average analyst estimate.

The company declared an interim dividend of 90 yen per share, its first-ever dividend payout.

Strong demand for NAND flash memory chips from major technology companies has pushed up average prices for these chips, benefiting Kioxia.

The company expects operating profit of 2 trillion yen for the current quarter, below the market estimate of 2.35 trillion yen.

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