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.

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.