Marvell Stock Has Been Hot. Now the AI Chip Maker Is Buying Back Shares.

Core Viewpoint - The chip maker's board has authorized a new buyback program worth $5 billion [1] Group 1 - The new buyback program is aimed at returning value to shareholders [1] - This move reflects the company's confidence in its financial position and future growth prospects [1] - The buyback program is expected to enhance earnings per share by reducing the number of shares outstanding [1]