$SKHY $29B share buyback & cancellation of shares + a change of wording to the buyback policy to "at least 50% of FCF" (from "up to 50%") If you are a memory company at this stage, maximizing share buybacks is honestly one of the best moves you can make, especially given long-term contracts and the nature of AI/intelligence (not a gadget, but a commodity with constant demand). The memory market is becoming less cyclical, and the bottom-cycle multiple will be much higher than in the past (the market doesn't believe that yet, hence the 4x forward P/E on $SKHY). With demand still coming from both AI devices and humanoids, memory will remain a high-demand component for years to come. Strong signal from management as they believe in the change of the cyclicality of the industry, while the market still doesn't, hence the buyback.