Toilet Maker Toto’s Shares Get Unlikely Boost From AI Rush

Shares of Japanese toilet maker Toto Ltd. gained the most in five years after booming memory demand excited expectations of growth in its little-known chipmaking materials operations.

The stock surged as much as 11%, its steepest rise since February 2021, after Goldman Sachs analysts said Toto’s electrostatic chucks used in NAND chipmaking will likely benefit from an AI infrastructure buildout that’s tightening supplies of both high-end and commodity memory.