Update:Sandisk, Kioxia to Invest Over $31 Billion to Boost AI Chip Output in Japan

05:58 AM EDT, 08/27/2026 (MT Newswires) -- (Updates with attribution to company statement in the first and second paragraphs.) Sandisk (SNDK) and Kioxia plan to spend over 5 trillion yen ($31.39 billion) to boost production capacity in Japan, the companies said Thursday. The six-year investment plan includes 1.8 trillion yen dedicated to a new Kitakami facility for advanced 3D flash memory chips, with both firms seeking Japanese government subsidies, the companies said. Shares of Sandisk were up 4.9% in Thursday premarket activity.