Kioxia's Market Value Plummets Two-Thirds Amid China Competition

Japanese memory chip maker Kioxia Holdings has experienced a significant decline in its market value, now standing at one-third of its peak from just four months prior. This sharp decrease is attributed to the rising cost of debt for data centers, which poses a risk to their business model, and the increasing competitiveness of Chinese chip manufacturers. Kioxia, which holds the third-largest share in the global NAND market behind Samsung Electronics and SK Hynix, is planning to invest over 1 trillion yen ($6.27 billion) in a new production facility in northern Japan. The company's April-September earnings are anticipated to show a substantial profit gain, with results due on October 30.