The chipmaker clarified that the share repurchase program has no termination date and may be suspended or discontinued at any time.

Shares of Advanced Micro Devices Inc. (AMD) soared 6% on Wednesday after the chipmaker unveiled a new $6 billion share repurchase program.

The new authorization will supplement its $4 billion existing share repurchase program, increasing the total current repurchase authority to approximately $10 billion.

CEO Lisa Su said the company’s expanded share repurchase program reflects the board’s confidence in the firm’s strategic direction, growth prospects, and ability to generate strong free cash flow consistently.

“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,” she said.

AMD also clarified that the share repurchase program has no termination date and may be suspended or discontinued at any time.

The chipmaker was in the news on Tuesday after it announced a multi-year collaboration with Saudi Arabia’s Humain. Under the partnership, the companies will invest up to $10 billion to deploy 500 megawatts of AI computing capacity over the next five years. The announcement came in the wake of the $600 billion U.S.-Saudi Arabia investment pact.

While AMD will provide the full spectrum of the AMD AI compute portfolio and the AMD ROC open software ecosystem, Humain will oversee end-to-end delivery, including hyper-scale data centers, sustainable power systems, and global fiber interconnects.

Earlier this month, AMD reported a 36% year-on-year (YoY) jump in its first-quarter revenue to $7.44 billion. Adjusted net income rose 55% YoY to $1.57 billion.

For the second quarter, the chipmaker expects revenue to be approximately $7.4 billion, plus or minus $300 million. Adjusted gross margin is estimated to be 43%, including approximately $800 million in charges for inventory and related reserves.

AMD stock is down by 1% in 2025 and 22% in the past 12 months.

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