US EditionWestern Digital adds $4 billion to buyback plan as AI boosts memory chip sales
Western Digital expands share buyback by $4 billion due to rising AI server memory chip demand and strong sales forecasts, with shares up 57% this year.
- Western Digital's Board of Directors approved on Wednesday an additional $4.0 billion for share repurchases, effective immediately.
- Surging demand for memory chips used in artificial intelligence servers pushed the move after last week the company forecast fiscal third-quarter revenue and profit above expectations.
- Repurchases may be executed on the open market, in privately negotiated transactions or under Rule 10b5-1 plans, and CEO Irving Tan said `The expanded $4.0 billion buyback demonstrates our confidence in WD's future.`
- Western Digital shares reacted in premarket trading, rising about 5 per cent and adding to a 57 per cent jump this year as part of the capital-allocation strategy.
- The company cautioned that key risks and uncertainties, including qualified suppliers, market volatility and supply-chain disruptions, could cause actual results to differ amid a global shortage of memory chips.
20 Articles
20 Articles
Western Digital has presented its HDD roadmap: This year, the first 40-TB hard drives will be launched, the first HAMR drives will follow in 2027. By 2029, the delivered capacity will rise to 100TB.
WD unveils roadmap for 100TB+ hard drives as AI data boom explodes
Western Digital is officially entering a new era, rebranding itself simply as WD and dropping a massive roadmap that targets the heart of the AI revolution. At its Innovation Day 2026, the storage giant showcased how it plans to keep up with the insatiable data demands of artificial intelligence. The headline act is a clear […] The post WD unveils roadmap for 100TB+ hard drives as AI data boom explodes appeared first on techAU.
Huge 100TB hard drive is set to arrive by 2029
I remember using a 128MB USB drive in school and thinking that was a lot of data. Now, there’s talk of 100TB hard drives arriving before the end of the decade. That lofty target came from Western Digital’s ‘Innovation Day 2026’, where the data storage company outlined its long-term plans. It’s on the verge of releasing a 40TB UltraSMR ePMR HDD, which will be used to keep up with the increasing demands placed on data centres by AI technologies. B…
Coverage Details
Bias Distribution
- 100% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
