AMD is on a roll these days, especially as the risks surrounding the US-China trade war 2.0 have largely abated and the AI-driven CapEx among hyperscalers shows no sign of slowing down.
As an illustration of AMD's newfound confidence, consider the fact that the company has now increased its share buyback authorization by $6 billion. When coupled with the ~$4 billion in existing authorizations (as of the 29th of March 2025), the company's total outstanding buyback authorization now equals ~$10 billion, which is sufficient to acquire over 84 million shares at the current share price.
After buying back less than $500 million worth of its shares over the past few quarters, AMD bought $749 million worth of its shares in the last quarter. What's more, the company's expanded buyback authorization bodes well for a more aggressive buyback activity in the ongoing quarter and beyond.
Interestingly, this development comes as HUMAIN, the AI-focused subsidiary of Saudi Arabia's Public Investment Fund (PIF), has now inked an agreement with AMD to create a $10 billion fund to "deploy 500 megawatts of AI compute capacity over the next five years."
Under the terms of this deal, "HUMAIN will oversee end-to-end delivery, including hyperscale data center, sustainable power systems, and global fiber interconnects, and AMD will provide the full spectrum of the AMD AI compute portfolio and the AMD ROCm™ open software ecosystem."
AMD and HUMAIN plan to activate their first "multi-exaflop capacity" data center in Saudi Arabia by early 2026.
Meanwhile, as stated earlier, AI hyperscalers appear to be in no mood to slow down their AI-related spending. As per a tabulation by Wolfe Research, the AI hyperscalers are on course to increase their 2025 CapEx by 35 percent over 2024 levels. This, of course, bodes well for NVIDIA, AMD, and TSMC.
Finally, we note that AMD managed to deliver solid results recently for its Q1 2025, posting a trifecta of beats by exceeding the consensus expectation of analysts on its top-line and bottom-line metrics, coupled with a more upbeat guidance.
About the author: Writing is my one incontrovertible passion. Over the past six years, he has authored over 2,200 distinct articles on financial and tech-related topics, spanning nearly 1 million words. And he has been a member of Wcctech mobile team since 2025. As an alumnus of the University of Toronto, Rotman Commerce Program, I bring nuance, in-depth knowledge, and a unique perspective to every topic that I cover. When I'm not writing, I'm traveling the world, exploring hidden confectionaries and restaurants as an aspiring food connoisseur.
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