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Market Chatter: AI Boom Propels Kioxia Past Toyota as Japan's Most Valuable Firm; Kioxia Shares Jump 9%

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Driven by the global surge in artificial intelligence, chipmaker Kioxia (TYO:285A) has overtaken Toyota (TYO:7203) to be Japan's largest company by market value, Bloomberg News reported on Saturday.

Following a 7.6% jump in its shares, Kioxia's valuation exceeded 44 trillion yen on Friday, while Toyota closed at 43.8 trillion yen, the news wire said.

This change reflects a rising investor appetite for semiconductor companies, fueled by strong demand for AI data center chips, the publication said.

Kioxia's stock has skyrocketed more than 670% this year, making it the top performer on a major global index, the report said.

Kioxia shares jumped over 9% in morning trade Monday.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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