Kioxia poised for long-sought IPO as AI boom trickles down

TOKYO -- Friday's application by Kioxia Holdings to list on the Tokyo Stock Exchange comes six years after its spinoff from Toshiba and three years later than planned, due partly to a narrow specialization that has left it vulnerable to the market's ups and downs.

The current boom in artificial intelligence-related investment is finally providing an opportunity to achieve its long-sought goal, which will enable the company to raise much needed capital.