Advanced Micro Devices shares jumped Wednesday, as the chip designer said its board approved a fresh $6 billion share buyback program.

Advanced Micro Devices (AMD) is betting on its future growth and rewarding shareholders with a bold $6 billion share buyback program, marking a significant milestone in the company’s financial strategy.

AMD said on Wednesday that its board of directors approved $6 billion in share buybacks. The stock climbed 8%. The authorization is in addition to $4 billion in existing approved share repurchases, the company said.