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

SemiconductorsChip supplier's July-September outlook falls short of analyst estimatesDemand 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)TSUBASA SURUGAJuly 31, 2026 15:53 JSTTOKYO -- 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.