TOKYO, June 26 (Reuters) – Shares of Japanese chipmaker Kioxia slid 12% on Friday after a report that ChatGPT \u200cmaker OpenAI was considering delaying its initial public \u200coffering sparked a selloff in AI-related shares. <\/p>\n
Kioxia, previously called Toshiba Memory and carved \u200bout of Toshiba in 2018, is a major producer of memory chips. Its shares have surged as AI investment has boosted the chip industry, making it the most valuable company on the \u200cNikkei 225 index. <\/p>\n
But on \u2060Friday it was hit by a broader selloff after the New York Times reported that OpenAI \u2060is considering holding off on its IPO until next year as CEO Sam Altman seeks a $1 trillion valuation. <\/p>\n
Kioxia said on \u200bThursday it \u200bis considering a stock split \u200band aims to list American \u200cdepositary shares on a U.S. exchange at the beginning of the next financial year, which runs until March 2028. <\/p>\n
“Whether it’s April, May, or June is not yet clear, but we’re hoping to list… around that time,” Chief Financial Officer Yoshihiko \u200cKawamura said at Kioxia’s annual general \u200bmeeting. <\/p>\n
Asian tech firms are looking to \u200bexpand their investor base \u200bin the U.S., with chipmaker SK Hynix saying \u200cthis week it plans to \u200braise up to $29.4 \u200bbillion through a U.S. listing. <\/p>\n
“The timeframe to complete this offering suggests that (Kioxia) is highly confident of its ability \u200bto continue to \u200cproduce outstanding results in the next 9-12 months,” analyst \u200bDouglas Kim wrote on the Smartkarma platform. <\/p>\n
(Reporting by Sam \u200bNussey; Editing by David Dolan) <\/p>\n","protected":false},"excerpt":{"rendered":"TOKYO, June 26 (Reuters) – Shares of Japanese chipmaker Kioxia slid 12% on Friday after a report that…\n","protected":false},"author":2,"featured_media":555070,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[261],"tags":[291,237558,289,290,18,19,36247,17,308,82],"class_list":["post-555069","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-american-depositary-shares","tag-artificial-intelligence","tag-artificialintelligence","tag-eire","tag-ie","tag-initial-public-offering","tag-ireland","tag-sam-altman","tag-technology"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/116815992345960570","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/555069","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=555069"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/555069\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/555070"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=555069"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=555069"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=555069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}