SK Hynix plans to buy back and cancel $28 billion of its shares over the next three months, accelerating its shareholder‑return program.

The chip maker says this repurchase is part of its commitment to return more than 50% of its cumulative free cash flow to shareholders over three years through 2027. It aims to keep the program fast‑tracked and reflects the company’s belief that its intrinsic value is not fully captured by the current stock price.

Shares fell 9.7% on Wednesday, following_buybacks in U.S. chip stocks, but the stock has more than doubled this year thanks to the AI boom that drives demand for advanced chips. SK Hynix remains a key supplier of high‑bandwidth memory products to Nvidia.

The Kari company highlighted its business competitiveness, strong cash generation, and mid‑to‑long‑term growth potential as the foundation for the buyback, underscoring the long‑term benefits for investors.