According to CoinMeta, SK Hynix ($SKHY) announced a stock repurchase plan worth up to $29 billion, causing the stock price to rise by 7.1% at one point. This AI chip giant will repurchase and cancel up to 24 million shares over the next three months, with the repurchase program starting on August 20. In addition, SK Hynix will also return at least 50% of its free cash flow from 2025 to 2027 to its shareholders.