Kioxia, a major Japanese chipmaker, saw its shares slide 12% on Friday following a report that ChatGPT maker OpenAI is considering delaying its initial public offering (IPO) until next year. This move sparked a broader selloff in AI-related shares.

Kioxia’s Plans

Kioxia, previously known as Toshiba Memory, is looking to expand its investor base in the US. The company is considering a stock split and aims to list American depositary shares on a US exchange at the beginning of the next financial year, which runs until March 2028.

Chief Financial Officer Yoshihiko Kawamura stated that the exact timing of the listing is not yet clear but hopes to list around the beginning of the next financial year. Asian tech firms, including chipmaker SK Hynix, are also looking to raise capital through US listings.

Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.