Japan's Kioxia forecasts 48-fold quarterly profit jump on AI demand

Chip supplier says 'strength of the flash memory market is expected to continue'

Kioxia has been increasing its focus on advanced memory products used in AI servers. (Photo by Naoki Hori)

TOKYO -- Kioxia Holdings on Friday forecast a 48-fold jump in quarterly net profit as booming demand from artificial intelligence data centers continues to drive up prices and shipments of memory semiconductors.