(RTTNews) - AMD (AMD) Tuesday announced that its board of directors approved a new $6 billion share repurchase program. Shares of AMD gained over 5% in the morning trade.
The new authorization is in addition to the remaining balance, as of March 29, 2025, of approximately $4 billion of its existing share repurchase program, increasing the total current repurchase authority to approximately $10 billion.
"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 Chair and CEO Dr. Lisa Su. "We remain committed to disciplined capital allocation and driving strong shareholder returns, including investing in our leadership product portfolio to drive growth, while returning capital to owners."
AMD is currently trading at $118.55, up $6.09 or 5.42%, on the Nasdaq. The stock opened its trading at $119.83 after closing Tuesday at $112.46. The stock has traded between $76.48 and $187.28 in the past 52-week period.
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