“Our expanded share repurchase program reflects the Board’s confidence in AMD’s strategic direction, growth prospects, and ability to consistently generate strong free cash flow,” said AMD CEO Lisa Su in a statement.
“Our expanded share repurchase program reflects the Board’s confidence in AMD’s strategic direction, growth prospects, and ability to consistently generate strong free cash flow,” said AMD CEO Lisa Su in a statement.
In addition to the buyback news, AMD reported its fiscal first-quarter earnings, posting 96 cents in adjusted earnings per share on $7.44 billion in revenue. AMD is considered one of the leading artificial intelligence chip companies, alongside Nvidia.
AMD also announced a major deal on Tuesday, potentially worth $10 billion, to provide chip support to an AI company called Humain in Saudi Arabia.
AMD is set to supply graphics processors and central processors needed for AI servers, while Humain will also be purchasing Nvidia chips. Following the announcement, Bank of America analyst Vivek Arya raised his price target for AMD by $10, setting it at $130 per share.
TechEchelon Staff bylines are produced collectively by the newsroom for short, breaking, and wire-style coverage. Longer-form reporting is published under the responsible reporter's name.
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South Korea's Kospi surged 2.8% as Samsung Electronics and SK Hynix reached all-time highs, while U.S. chip stocks including Intel and Micron powered a broad market rebound following a volatile Federal Reserve policy meeting.
Written for readers who already know the basics — markets, AI, and the policy decisions that shape both.