South Korea’s SK Hynix unveiled a 40 trillion won ($24 billion) share buyback program on Wednesday, authorizing the repurchase of up to 24 million of its own shares between August 20 and November 19.
The announcement follows a surge in demand for artificial intelligence-related memory chips, which has driven record capital inflows into the company. The program aims to return value to shareholders amid the heightened interest in AI infrastructure.
SK Hynix’s shares pared losses after the buyback news, though the stock closed 8.3% lower on Wednesday, tracking broader weakness in U.S. semiconductor equities. Rising global bond yields have weighed on the sector, offsetting gains from AI-driven revenue growth.
Despite the recent decline, the SK Hynix share price remains more than double its value at the start of the year, though it has fallen roughly 50% from its June record high. The company did not provide additional details on the allocation of the buyback funds or the potential impact on earnings per share.
