On September 10, Roundhill Memory ETF fell 5.04% in regular trading, trading at $58.505/share, with turnover of $1.169 billion. The decline was driven by Kioxia CEO Hiroo Ota publicly declaring that memory prices have risen enough, making Kioxia the first major storage manufacturer to actively brake the ongoing price rally.

Ota disclosed he has instructed his sales team not to aggressively push significant price increases to data center clients, warning that runaway pricing could ultimately undermine AI investment appetite and long-term market growth. Kioxia's NAND flash average selling price surged 70% quarter-over-quarter in the June quarter, following a more-than-doubling in the prior period. Ota indicated a repeat of such increases appears unlikely, with the priority now being to hold prices at current elevated levels rather than push higher.

The remarks triggered broad-based profit-taking across the storage sector. The Philadelphia Semiconductor Index fell 2.43%, while SK Hynix dropped 4.00%, Western Digital 4.11%, SanDisk 3.89%, and Micron Technology 3.42%, collectively giving back gains previously fueled by AI compute demand and critically low inventory levels at major manufacturers.

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