Memory chipmaker Kioxia Holdings replaced Toyota Motor to become Japan¡¯s largest company by market value, underscoring how the global artificial intelligence boom is reshaping the country¡¯s corporate landscape.
Shares of the Japanese memory chipmaker surged 7.6% Friday, lifting its market value above ?44 trillion ($274 billion) just 18 months after its stock market debut. Automaker Toyota, which earlier briefly lost the top spot to SoftBank Group, closed with a market capitalization of ?43.8 trillion. The figures include treasury shares.
The shift highlights investors¡¯ growing preference for semiconductor companies, as demand for chips used in AI data centers has climbed alongside peers worldwide. Kioxia has surged more than 670% this year, making it the best performer on the MSCI World Index.
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