By Jason Chau and Fabiana Negrin Ochoa
Samsung Electronics has announced its biggest-ever share buyback, coming as chip makers reap the rewards of the artificial-intelligence boom.
The Korean company--one of the world's top memory-chip makers--sad it will buy back 90 trillion won to 110 trillion won of shares, or about $64.54 billion to $78.88 billion.
The announcement had been widely expected as pressure mounts on Korean chip giants to share the AI windfall.
Samsung's peer, SK Hynix, unveiled its own program to boost shareholder returns earlier this week, including plans to buy and cancel more than $28 billion of shares.
