On Monday, shares of Kioxia, Japan's NAND flash leader, tumbled as much as 17% intraday after the company's cautious earnings guidance, released last Friday, disappointed investors and reignited fears that AI-driven growth momentum may be losing steam. By press time, the stock was down 13.29% at 11,680 yen—nearly 70% below its June record high, though still up twofold year-to-date.