Semiconductor company Advanced Micro Devices (AMD) announced a new share repurchase program of up to $4 billion worth of shares. Following the share buyback announcement, AMD shares rose 2.4% on May 19 to close at $76.23. Advanced Micro intends to fund the buyback through cash generated from operations, the company said. Under the program, the company will buy back shares in the open market. This repurchase program has no termination date. Advanced Micro’s CEO Lisa Su said, “Today’s announcement reflects our confidence in AMD’s business and the successful execution of our multi-year growth strategy.
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Advanced Micro Devices (NASDAQ:AMD)
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