Japanese chipmaker Kioxia’s dramatic valuation drop from $18B in 2018 to $5.1B in its upcoming IPO is due to its high debt and lower AI exposure than rivals (Jacky Wong/Wall Street Journal)

Jacky Wong / Wall Street Journal:
Japanese chipmaker Kioxia's dramatic valuation drop from $18B in 2018 to $5.1B in its upcoming IPO is due to its high debt and lower AI exposure than rivals  —  Kioxia is going for a discount due to its high debt and lower AI exposure than rivals  —  Japan's last blockbuster initial public offering …