00:00This latest announcement from SK Hynix, lifting sentiment following that global chip
00:04route. The South Korean tech giant planning to buy back 29 billion dollars worth of its
00:08own shares. It is an effort to ease the concerns over the durability of AI spending. Bloomberg's
00:14Neil Campling joins us now for more. There was clearly a need to do this, Neil, now that
00:18we see stocks rallying. Is this the trick? Is this what companies need to do? Just start
00:23buying back shares? Well, it kind of helps, funny, doesn't it? We have been expecting
00:29a buyback announcement for the last couple of weeks. So at least that's put that concern
00:33to face when they've announced this. It's not necessarily going to end the jitters around
00:38the whole AI spending argument, of course, because whilst they're generating a lot of
00:42free cash flow at the moment, they've also announced significant capex spending. And
00:46then there's all questions around how the accounting treatment will be, whether you're cancelling
00:50treasury shares, et cetera. So it doesn't read to me like a simple way of like a US buyback
00:56does in terms of cancelling the stock, et cetera. So let's wait and see how this plays out.
01:01But it's an incremental positive for the stock in the short term, at least.
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