US EditionWestern Digital adds $4 billion to buyback plan as AI boosts memory chip sales
Western Digital boosts buyback program by $4 billion to return capital amid rising AI server memory chip demand and strong sales, CEO said.
- Western Digital's Board of Directors approved an additional $4.0 billion for share repurchases on Feb 3, 2026, effective immediately.
- Surging demand for memory chips used in artificial intelligence servers prompted Western Digital to expand its buyback plan, with about $484 million remaining under prior authorization as of February 2, 2026.
- Repurchases can be executed on the open market or via privately negotiated transactions and may be made pursuant to a Rule 10b5-1 plan, with timing and amounts depending on market conditions and corporate considerations.
- Its shares rose about 5% in premarket trading, adding to a 57% jump this year after more than tripling last year, while CEO Irving Tan said the expanded $4.0 billion buyback "demonstrates our confidence in WD's future and commitment to shareholder value."
- Looking at the industry, competition for AI chips is intensifying, and the buyback aligns with the company's capital-allocation strategy to balance reinvestment, debt reduction, and shareholder returns.
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