The Globe and Mail reports in its Thursday edition that Thomson Reuters plans to buy back up to $500-million (U.S.) of its shares, the content and technology company said on Wednesday, as concerns about rising artificial-intelligence costs weigh on its stock price. A Reuters dispatch to The Globe says that under the plan, Thomson Reuters may buy up to seven million shares, or about 1.6 per cent of its share capital, over the next 12 months. Thomson Reuters said its controlling investor Woodbridge Co. Ltd., which owns about 70 per cent of the company, plans to participate proportionally in the buyback to maintain its stake. Woodbridge, the Thomson family holding company, also owns The Globe. The company reported higher quarterly revenue earlier this month, but its shares fell on what some investors said were concerns over the impact on profit of higher AI spending. Wall Street has punished stocks from software firms to Alphabet and Amazon this earnings season on fears that the mounting bill will eat into corporate profits. Thomson Reuters's Canadian shares have declined 15 per cent so far this year. Thomson Reuters is the parent company of Reuters News. The company's shares closed Wednesday at $155.06, up $1.34.