According to CoinMeta, Kioxia Corporation is building a new manufacturing factory at its production base in Iwate Prefecture in northern Japan to increase capacity and meet the growing demand for storage devices in the field of artificial intelligence. The investment in this project is expected to exceed 1 trillion yen (approximately $6.27 billion). The new factory will be the third facility within this industrial area and will produce the latest high-density 3D flash memory chips, aimed at helping to manage the massive workflows generated by artificial intelligence services. Kioxia began shipping the stacked NAND chips last month, which are the tenth-generation BICS flash memories. Kioxia and SanDisk will apply for subsidies from the Japanese government and plan to announce this expansion plan on Thursday evening.