Western Digital adds $4 billion to buyback plan as AI boosts memory chip sales


FILE PHOTO: AI (Artificial Intelligence) letters and robot hand are placed on computer motherboard in this illustration created on June 23, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

Feb 3 (Reuters) - ‌Western Digital said on Tuesday its ‌board has approved $4 billion more ‌for share repurchases, as demand for its memory chips used in artificial intelligence servers ‍surges.

Its shares rose about 5% ‍in premarket trading, ‌adding to a 57% jump this ‍year. ​The shares had more than tripled in value last ⁠year.

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