Kioxia Holdings' market value halved within a month as the AI storage boom significantly waned

(1) Market concerns over excessive gains in the AI-driven storage chip sector are increasing, triggering a sharp correction in related stocks.(2) On Friday morning in Tokyo, Kioxia's stock price at one point plummeted by 14%, accumulating a 51% drop from last month's peak, with its market value evaporating by about 29.5 trillion yen (approximately $181.7 billion), effectively being halved.(3) Back in mid-June, fueled by optimistic sentiment around AI demand, Kioxia's stock surged over 600% this year and at one point surpassed Toyota to become Japan's largest listed company; however, its ranking has now dropped to fourth among listed companies.