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SK Hynix repurchases $28B shares
South Korean company SK Hynix has approved a share buyback plan valued at up to $28.3 billion, involving the purchase of approximately 24 million shares, in an effort to stabilize the stock price and boost market confidence. This move is part of a strategy to allocate a portion of the profits generated from growth in the artificial intelligence sector back to shareholders, while also increasing the company's free cash flow targets by more than 50%. These actions aim to support the company's valuations amid global technology market fluctuations and rising demand for memory chips and advanced processors.
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