AI chipmaker AMD unveils $6 billion buyback plan

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The story "AI chipmaker AMD unveils $6 billion buyback plan" was covered 1 weeks ago by Channel News Asia, a news publisher based in Singapore.

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AI chipmaker AMD unveils $6 billion buyback plan - Channel News Asia

Quick Summary:

Advanced Micro Devices on Wednesday announced a new $6 billion stock buyback plan, joining a string of chipmakers that are looking to reduce their float as the AI trade that has powered their shares shows some signs of slowing.

Shares of the Santa Clara, California-based company rose as much as 6.

While the chip sector at large has been pressured by fears around artificial intelligence-linked spending and the impact of a global trade war, AMD has still underperformed peers as concerns emerge around its competitiveness in the AI market.