SK Hynix announced a share buyback program worth nearly $29 billion after its stock fell more than 50% over five weeks amid investor concerns about the sustainability of AI-related spending. The company says its underlying business remains strong, citing memory chip inventory that is sold out through 2027 and major customers including Nvidia and Apple. The buyback is intended to stabilize the stock, which SK Hynix characterizes as a valuation-driven selloff rather than a deterioration in fundamentals.
