US listing could put Japan's Kioxia in global AI spotlight, Voya's Thomas says

Japan's Kioxia, which saw a 456% surge in 2026, is preparing to list shares in the US, potentially returning the company to the global investment spotlight, according to Sebastian Thomas, the lead manager of a $14 billion artificial intelligence-focused fund. Although Kioxia is not part of Voya Investments' Global Artificial Intelligence fund, which includes $5 billion in Japanese investments, the company's potential US listing could enhance liquidity, making it more attractive for investment.

The fund, managed by Sumitomo Mitsui DS Asset Management, has delivered approximately 600% cumulative returns since its launch 10 years ago, with a significant allocation to AI infrastructure companies like Nvidia and AI application makers. Thomas noted that US listings make it easier for firms like Kioxia to attract investment, similar to the case of South Korea's SK Hynix, which saw increased liquidity after its Nasdaq listing in July.