Kioxia's 332-Layer NAND and Fully Booked 2026 Capacity Fuel 18.8% Stock Surge
Published on 07/04/2026 at 18:13 | Redaktion boerse-global.de
Kioxia has sold every bit of NAND and SSD output it can produce for the rest of the year, and that scarcity — combined with a new memory chip boasting a record 332 layers — sent shares ripping 18.77% higher on Friday to €465.00. The rally extends what is already one of the year's most spectacular runs outside the US: the stock has gained roughly 631% in the first half of 2026.
The catalyst was the official start of sampling for the tenth-generation BiCS10 1Tb TLC 3D NAND, co-developed with partner Western Digital/Sandisk. Against the previous BiCS8 architecture, bit density climbs 59%, interface speed jumps 33% to 4.8 gigabits per second, and power consumption drops 18% for writes and 30% for reads. Those efficiency gains are a direct lure for hyperscale AI data centres that must cool thousands of servers. Production is already underway at the Kitakami Fab2 plant in Japan, which began operations in September 2025 and uses the new Circuit-Bonded-on-Array process. The joint venture with Western Digital was recently extended to December 2034.
Management, helmed by CEO Hiroo Ota, is betting aggressively that inferencing — the live deployment of trained AI models — will drive a "memory super-cycle." From fiscal 2028, the data-centre segment is expected to contribute more than 60% of revenue. To meet that demand, Kioxia plans to double its total capacity by 2029, with an annual capex of roughly $2.9 billion starting this year and talks about a third fabrication hall in Kitakami already underway. A stock split is under review, and the company is targeting a US listing in April 2027. Market capitalisation has swelled past $250 billion.
Should investors sell immediately? Or is it worth buying Kioxia?
Despite the euphoria, the stock still sits 10.56% below its year-to-date high of €519.90 set on June 30, though it has rocketed 389.47% from the March trough of €95.00. The 50-day moving average of €243.20 is now 91.2% lower than the current price. Net margin stands at 23.7%. Over the past 30 days, annualized volatility reached 162.9%, while the RSI at 65.5 signals strong but not extreme buying momentum.
Competition is not standing still. Samsung and SK Hynix dominated the memory market last year and are both expanding. The Philadelphia Semiconductor Index has shown signs of cooling, yet demand for high-density 3D-NAND appears to be decoupling from the broader chip cycle. Industry observers estimate that Kioxia holds a two- to four-year lead in power efficiency — a lead the company will need to defend as rivals close in with their own advanced layer counts.
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