AI accelerates Kioxia shares up 400% — now the Japanese memory maker wants to raise another $10 billion in the U.S.

Japanese multinational Kioxia is considering the possibility of raising at least $10 billion through a placement of American depositary receipts (ADRs). according to Bloomberg The memory chip maker is in preliminary talks with Bank of America, Goldman Sachs Group Inc. and JPMorgan Chase & Co., according to people familiar with the matter. About doing deals next year.

Image source: kioxia.com

ADR placements will be open kioxiaEnter a specialized index of semiconductor stocks, which traditionally increases institutional investor interest and allows manufacturers to capitalize on high demand for artificial intelligence-related assets. As the offering process is still in its early stages, offering details, including the final size of the offering and the composition of the organizing banks, are subject to change.

The decision to enter the American stock exchange is linked to record growth in quotes: Kioxia’s share price on the Tokyo Stock Exchange has increased by nearly 400% since the beginning of the year, giving the company a market capitalization of $180 billion. The company had previously announced a 3:1 stock split and a stock buyback plan worth up to 800 billion yen ($5.2 billion) to stabilize its share price and expand its shareholder base, but in July it warned of a poor financial outlook after reporting that it missed market expectations.

Global interest in the semiconductor industry remains high. South Korea’s SK Hynix listed on the U.S. stock exchange in July and raised $26.5 billion, setting a record for a foreign issuer. At the same time, the market has shown sensitivity to artificial intelligence regulatory news. As a result, Nasdaq 100 futures and chipmaker stock ETFs have fallen recently amid discussions of advanced model safety measures.

Kioxia previously formally announced an ADR offer for spring 2027, but new data suggests that process may be accelerated. The transaction is likely to take place in the United States in 2025 to 2026, with the exact placement price to be determined closer to the listing date. Representatives for Kioxia, Goldman Sachs and JPMorgan declined to comment to Bloomberg, and Bank of America did not respond.