TOKYO, May 15 (Reuters) – Japanese memory chipmaker Kioxia said on Friday it expected ‌operating profit for the April-June quarter ‌to reach 1.3 trillion yen ($8.20 billion) as the ​artificial intelligence boom boosts chip demand.

• The maker of NAND flash memory chips reported operating profit rose 92.7% to 870.4 billion ‌yen in the ⁠year ended March, beating estimates.

• Kioxia said it is preparing to ⁠list American depositary shares on a U.S. exchange to grow its investor base.

• Its ​share price ​has more than ​quadrupled year-to-date, giving ‌the chipmaker a larger market capitalisation than Sony and Uniqlo parent Fast Retailing.

• The valuation of South Korean chipmaker Samsung Electronics has topped $1 trillion, with SK Hynix also ‌closing in on the ​milestone.

• Kioxia has seen ​years of upheaval ​including a carve-out from scandal-hit ‌Toshiba by a Bain ​Capital-led consortium ​and a listing in Tokyo in late 2024.

• Memory makers have large capital ​needs and ‌have been exposed to volatile price ​cycles.

($1 = 158.4600 yen)

(Reporting by Sam Nussey; ​Editing by Muralikumar Anantharaman)