Nvidia Expands Share Buyback Program by 150 Billion Dollars
Nvidia has expanded its share repurchase program by 150 billion dollars, bringing its total remaining buyback authorization to 235 billion dollars through fiscal year 2028.
Nvidia, the chipmaker at the heart of the artificial intelligence revolution, has expanded its share repurchase program by 150 billion dollars, bringing the total remaining authorization under the plan to 235 billion dollars.
This is the largest share buyback program ever approved by the company to date. Nvidia will complete the share purchases through fiscal year 2028, the company announced from Santa Clara, California, in a statement published on Monday.
"Nvidia's growth is driven by a once-in-a-generation platform shift toward artificial intelligence and accelerated computing," Jensen Huang said in the statement. "This authorization reflects our confidence in the long-term opportunity ahead of us."
According to MarketWatch, this is reportedly the largest share buyback program ever approved by a US company. Data from Birinyi Associates in May showed the previous record belonged to Apple, which in May 2024 approved a 110 billion dollar buyback plan.
Nvidia shares rose 1.3 percent to 228 dollars in pre-market trading on the New York Stock Exchange.
