Bain Capital exits Kioxia after chip deal yields big returns

Bain Capital has sold its entire stake in Kioxia Holdings, generating record returns after the chipmaker's shares surged over 4,800% since its debut, driven by AI-related demand. The exit marks the end of a transformative deal for Japan's tech and investment landscape.

Bain Capital has sold its entire stake in flash memory chipmaker Kioxia Holdings, closing a chapter on a deal that’s transformed the Japanese tech and investment landscape. “We don’t have a stake any more in Kioxia,” Bain Managing Partner David Gross said in an interview. The U.S. private equity firm has logged record-setting returns after a global spending spree on AI catapulted Kioxia’s shares more than 4,800% from their debut, transforming the chipmaker into one of Japan’s most valuable companies. “It’s worked spectacularly for all the stakeholders involved,” Gross said.