SK Hynix launches $28.6 billion share repurchase to steady falling stock

The world’s second-largest memory chip producer announced a massive share-repurchase program exceeding $28.6 billion, aiming to reassure shareholders following a recent slump. The move follows a $26 billion equity raise last month, the biggest non-U.S. offering, driven by soaring demand for AI-related memory chips. Analysts note that lingering volatility reflects worries about the sustainability of the company’s debt-heavy AI expansion. Meanwhile, Google struck a separate AI chip agreement that includes a $12 billion purchase of Marvell stock, adding to concerns about circular financing in the sector.