Kioxia Plans $10 Billion U.S. Listing Amid AI Tensions

Kioxia Holdings Corp. is considering raising at least $10 billion by listing American depositary receipts in the United States, potentially as early as next year. The Tokyo-based memory-storage maker has entered preliminary discussions with Bank of America Corp., Goldman Sachs Group Inc., and JPMorgan Chase & Co. to secure the funding.

The company seeks to increase liquidity following significant share repurchases in Japan and aims to potentially join a semiconductor-focused stock index. This move aligns with other AI-related firms, such as SK Hynix Inc., that are capitalizing on investor demand despite market volatility stemming from debates over AI safety safeguards.

These financial developments occur alongside rising diplomatic tensions between the United States and China regarding AI development. Chinese Foreign Ministry spokesman Guo Jiakun condemned calls from U.S. tech executives to slow AI progress as "fearmongering." Conversely, Anthropic CEO Dario Amodei warned that Chinese AI advancements could pose security threats. These disputes precede a scheduled AI discussion and a September 24 summit between Donald Trump and Xi Jinping.