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Reuters
Tue, February 3, 2026 astatine 7:37 AM CST 1 min read
Feb 3 (Reuters) - Western Digital said connected Tuesday its committee has approved $4 cardinal much for stock repurchases, arsenic request for its representation chips used successful artificial quality servers surges.
Its shares roseate astir 5% successful premarket trading, adding to a 57% leap this year. The shares had much than tripled successful worth past year.
A global shortage of representation chips has intensified contention among AI and user electronics companies for constricted supplies, driving up prices and extending pb times arsenic manufacturers conflict to ramp up capacity.
The information retention institution had astir $484 cardinal remaining for buybacks arsenic of Monday nether its anterior authorization of $2 cardinal successful May past year.
Last week, the institution forecast fiscal third-quarter gross and nett above Wall Street expectations, betting connected income of its hard drives and flash retention for AI servers.
(Reporting by Akash Sriram successful Bengaluru; Editing by Sahal Muhammed)
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