SK Hynix Plans $29 Billion Share Buyback Amid Chip Selloff

SK Hynix announced a 40 trillion won, or $29 billion, share buyback plan and will cancel treasury shares, helping lift sentiment after a global chip selloff. Bloomberg's Neil Campling says the buyback was expected and is an incremental positive for SK Hynix stock in the short term. He adds that it does not fully resolve broader AI-spending concerns because of significant capex and accounting questions. - SK Hynix announced a 40 trillion won/$29 billion share buyback. - The company plans to buy back and cancel up to 24 million treasury shares between Aug. 20 and Nov. 19. - The announcement follows a global chip rout and pressure around AI spending durability. - Neil Campling says the buyback was expected and removes a near-term overhang. - He views the buyback as an incremental short-term positive for SK Hynix shares. - Campling cautions that it may not calm AI-spending jitters due to major capex plans. - He also highlights accounting treatment uncertainty versus a simple US-style buyback.