Kioxia Eyes $10 Billion US Listing Amid AI Investor Frenzy

Kioxia Holdings Corp., a Tokyo-based memory-storage maker, is considering listing American depositary receipts (ADRs) in the US to raise at least $10 billion. The move would tap into strong investor demand for artificial intelligence-related companies.

The company has been speaking with lenders including Bank of America Corp., Goldman Sachs Group Inc., and JPMorgan Chase & Co. about an offering that may take place next year, according to people familiar with the matter who asked not to be identified because the matter is private.

Kioxia is seeking to gain more liquidity in the US after repurchasing billions of dollars' worth of shares in Japan, these sources said.