AMD said its board of directors approved a new $6 billion stock buyback program. Added to the existing plan, that gives the company authority to repurchase around $10 billion wort

Shares of semiconductor manufacturer AMD were up Wednesday after a big stock buyback authorization. Here's what that means.

Advanced Micro Devices on Wednesday announced a new $6 billion stock buyback plan, joining a string of chipmakers that are looking to reduce their float as the AI trade that has powered their shares shows some signs of slowing.