On May 15, reports emerged that Japan’s Kioxia Corporation is gearing up for a U.S. public listing, capitalizing on a global memory chip shortage that has propelled prices of this critical component to unprecedented levels. The company projects its operating profit for the quarter ending in June will soar to ¥1.3 trillion (approximately US$8.2 billion), outpacing analyst forecasts. This follows a record-breaking ¥596.8 billion profit in the March quarter, which also surpassed market expectations. Kioxia’s meteoric rise underscores the explosive demand for memory chips, fueled by hyperscale data center operators scrambling to build AI infrastructure. Since the start of the year, its stock price has surged nearly 300%. Analysts predict that by 2026, Kioxia’s operating profit could hit ¥4.2 trillion, potentially eclipsing Toyota Motor Corporation to become Japan’s most profitable enterprise.